07 Sep 2018

RMB Holdings announces final 183c dividend, 8% rise in normalised earnings

Fin24

RMB Holdings [JSE:RMH], the JSE-listed investment holding company that owns a 34% stake in banking group First Rand, has reported an 8% increase in headline earnings.

The group published its audited financial results year ended 30 June 2018 on Friday, saying the results were "satisfactory".

RMH’s board declared a gross final dividend of 183 cents per share, bringing the total dividend for the year ending 30 June 2018 to 351 cents per ordinary share. This is 7% higher than the 327 cents paid out per share in 2017.

Normalised earnings increased 8% to R8.8bn in the year ended June 30, compared to R8.2bn in the 2017 financial year.

Per share, normalised earnings came in at 624.4 cents, up 8% compared to 578.5c in 2017.

The group's shares were trading at R80.76 at 12:15 on the JSE, up 0.62% on the day.

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