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Masiyiwa Pockets US$2.7 million, Econet Wireless Zimbabwe Dividend

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As the year closed, Econet Wireless Zimbabwe major shareholder with 52.85%, Mr Strive Masiyiwa pocketed US $2.7 million as paid dividend from the company’s retained earnings as share price dropped.

Profit-taking actions and portfolio-rotation activities by investors on the floor of the Zimbabwe Stock Exchange caused the company’s stock to fall from a price of $89.27 ($0.277) to a price of $72.81 ($0.226) as of December.

This translates to a US$70-million ($22.5 billion) loss for the London-based Zimbabwean billionaire, who received an interim dividend of $821.3 million (US$2.6 million) on 16 December from the company’s retained earnings.

Masiyiwa, who established Econet Group in 1998, holds a majority 52.85-percent stake amounting to 1 368 840  391 ordinary shares in Econet Zimbabwe, the country’s largest telecom services provider.

His net worth at the present moment is US$2.3 billion, US$1.1-billion higher than his net worth at the start of 2021.

Since the year began, the market value of his 52.85-percent stake in Econet Zimbabwe has risen by over US$269 million thanks to a 666.8-percent bump in the share price of the telecom company.- Billionaires.Africa

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