Business

MBABANE - SBC Limited has declared a cash dividend of E110 million to its shareholders following an impressive financial performance in the first half of 2025.

In a statement issued this week, the company announced that ordinary shareholders registered as of October 30, 2025, will receive a dividend of E1.14 per share, with payment expected on or before November 10, 2025.

The transfer books and register of members will be closed between October 31 and November 4, 2025, both days inclusive. Dividends The notice states: “Normal and withholding tax will be deducted from dividends paid to resident and non-resident shareholders, respectively, where applicable.”

Last year, SBC Limited declared a dividend of E10 million, translating to E0.10 (ten cents) per share. The latest E110 million payouts, equivalent to E1.14 per share, therefore, represent a remarkable 1 000 per cent increase in total dividend value year-on-year.

This sharp rise shows the company’s strengthened profitability, enhanced liquidity position and management’s growing confidence in the group’s future earnings trajectory.

The generous dividend comes on the back of a solid 29 per cent increase in profit after tax for the six months ended June 30, 2025. SBC Limited recorded E10.27 million in profit, up from E7.93 million in the same period last year.

The company’s interim financial results, released last month, highlighted sustained growth across its main subsidiaries and reflected the group’s disciplined approach to cost control and risk management.

SBC Limited, which is listed on the Eswatini Stock Exchange (ESE), operates through two main subsidiaries: Select Limited in Eswatini and Lesana Lesotho in Lesotho - both of which focus on unsecured lending primarily to civil servants - and Pine Acres, its property development arm.

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Remains committed to refining lending models

MBABANE - The company said it remained committed to refining its lending models, expanding product accessibility and maintaining prudent underwriting standards to safeguard portfolio quality.

While lending faced headwinds, SBC Limited’s property subsidiary, Pine Acres, continued to deliver strong results. The unit, which man[1]ages Malkerns Square, one of the country’s premier mixed-use developments, reported a 99 per cent occupancy rate as of June 2025 - up from 97 per cent in December 2024.

The improvement was driven by sustained tenant demand and strong operating standards, positioning Pine Acres as a dependable income contributor within the group. To support growth and broaden access to home ownership, construction has commenced on 150 new residential units under Pine Acres’ expansion programme.

*Full article available in our publication.

SBC Limited Group Executive S’thofeni Ginindza. (Pic: File)