Despair as BTCL withholds dividends to store cash

Saving up: The BTCLu00e2u20acu2122s headquarters in Gaborone
Saving up: The BTCLu00e2u20acu2122s headquarters in Gaborone

The Botswana Telecommunications Corporation will not pay a final dividend to shareholders this year, and instead conserve cash as it faces an uncertain trading period due to the coronavirus (COVID-19) pandemic, directors have said.

The decision has triggered despair amongst the corporation’s retail investors, many of whom have remained faithful to the group despite the fall in the value of their shares from the P1.15 listing price in 2016 to the current 86 thebe.

In financials released last week, the BTCL recorded comprehensive income of P106.4 million for the year ended March 31, 2020, down from P162 million for the previous year. Earnings per share were pegged at 10 thebe compared to 15 thebe the previous year.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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