NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 29

29. DIVIDENDS
 

AfroCentric Investment Corporation Limited passed two resolutions whereby dividends were declared in the 2017 financial year. The first dividend was declared in September 2016 of 12 cents per share and the second dividend was declared in March 2017 of 14 cents per share, being the interim dividend. The Rand value of R66.5 million was paid in November 2016 for the first dividend and R77.6 million was paid in May 2017 for the second dividend. These dividends were debited to retained earnings in 2017.

  GROUP   COMPANY  
  June 2017
R’000
  June 2016
R’000
  June 2017
R’000
  June 2016
R’000
 
Dividend declared by AfroCentric Investment Corporation Limited in September 2016 66 525   55 438   66 525   55 438  
Dividend declared by AfroCentric Investment Corporation Limited in March 2017 77 613   66 525   77 613   66 525  
Other dividends in the Group:                
Dividend declared and paid by ACT Healthcare Assets Proprietary Limited to non-controlling interests 14 350   4 536      
Dividend declared and paid by Medscheme (Namibia) Proprietary Limited to non-controlling interests 15 222   4 408      
Dividend declared and paid by Allegra Proprietary Limited to non-controlling interests 3 044   578      

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS – NOTE 29