Pepkor restores dividend as full-year earnings surpass pre-Covid-19 levels

A Pep store in Balfour Mall in Johannesburg. Picture: WALDO SWIEGERS

A dividend of 44.2c per share has been declared in the year to end-September, as headline earnings surged 115% to R5bn to surpass the pre-Covid-19 levels, the retailer said on Friday. A year ago, the company opted to preserve cash in response to uncertainty over the pandemic. The retailer plans to open 300 new stores in the new financial year, the majority of which will be Pep and Ackermans, which it says are the most profitable brands within its stable. During the year under review, it opened 247 new stores.

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