Markets News

South Africa's Tiger Brands annual earnings fall, but declares special dividend

JOHANNESBURG, Nov 20 (Reuters) - Tiger Brands, South Africa’s biggest food producer, reported on Friday a 23% decline in full-year earnings but declared a special dividend in addition to a final dividend.

The owner of popular food brands Jungle Oats and Tastic rice said headline earnings per share (HEPS) from continuing operations fell to 1,196 cents in the year ended Sept. 30, from 1,556 cents it reported last year.

Tiger Brands said it will pay out a final dividend of 537 cents per share for the year and top it with a special dividend of 133 cents per share as a result of the one-off proceeds received from the disposal of its processed meat business. (Reporting by Nqobile Dludla; Editing by Muralikumar Anantharaman)