A number of companies have reintroduced dividends after holding back on payments earlier in the year due to the uncertainty introduced by Covid-19. Mr Price is one, thanks to strong cash generation which means it won't need to raise funds from shareholders to fund its latest acquisition. Instead, it's returning some.

Kaap Agri has also resumed dividends, but Quantum Foods is trimming its payout due to expected tough conditions in the year ahead. It had an eventful year after its largest shareholder Zeder sold its shares to competitor Country Bird, while private equity group Aristotle Africa built up a significant stake to become its largest shareholders. Its annual results were cushioned by rising demand for eggs during the lockdown as more South Africans turned their hand to baking.

Meanwhile, Nampak's shares rose sharply ahead of a trading statement that was released after the market close and described as dreadful so it may come under pressure today.

Also today, results from Stefanutti Stocks and an update from Murray and Roberts - as well as all your weekly mergers and acquisitions news courtesy of DealMakers.

Have a good weekend.

Stephen Gunnion

Managing Editor, InceConnect

The latest from Ingham Analytics

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