Declared Dividend • May 29
First half dividend of R0.30 announced Shareholders will receive a dividend of R0.30. Ex-date: 22nd July 2026 Payment date: 27th July 2026 Dividend yield will be 84%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non Executive Director Rachel Watson was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 01
Tsogo Sun Limited, Annual General Meeting, Aug 29, 2025 Tsogo Sun Limited, Annual General Meeting, Aug 29, 2025. Location: the main boardroom, hosken consolidated investments limited, suite 801, 76 regent road, sea point, 8005, cape town South Africa Announcement • Jul 02
Ninety One SA (Pty) Ltd. acquired 5% stake in Tsogo Sun Limited (JSE:TSG). Ninety One SA (Pty) Ltd. acquired 5% stake in Tsogo Sun Limited (JSE:TSG) on June 18, 2025.
Ninety One SA (Pty) Ltd. completed the acquisition of 5% stake in Tsogo Sun Limited (JSE:TSG) on June 18, 2025. Announcement • May 30
Tsogo Sun Limited Declares Final Gross Cash Dividend in Respect of the Year Ended 31 March 2025, Payable on 28 July 2025 The board of directors of Tsogo Sun Limited has resolved to declare a final gross cash dividend of 30.0 (thirty) cents per share in respect of the year ended 31 March 2025 from distributable reserves. The dividend will be paid in cash to shareholders recorded in the register of the company at close of business 25 July 2025. The dividend will be subject to a local dividend tax rate of 20%, which will result in a net dividend of 24.0 (twenty-four) cents per share to those shareholders who, are not exempt from paying dividend tax. Trading ex-dividend commences: 23 July 2025; Record date: 25 July 2025; Payment date: 28 July 2025. Announcement • Nov 28
Tsogo Sun Limited Declares an Interim Gross Cash Dividend for the Period Ended 30 September 2024, Payable on 23 December 2024 Tsogo Sun Limited board of directors has resolved to declare an interim gross cash dividend of 30.0 cents per share in respect of the period ended 30 September 2024 from distributable reserves. The dividend will be paid in cash to shareholders recorded in the register of the company at close of business 20 December 2024. The dividend will be subject to a local dividend tax rate of 20%, which will result in a net dividend of 24.00000 cents per share to those shareholders who are not exempt from paying dividend tax. The salient dates are as follows: Last date to trade cum dividend: 17 December 2024l Trading ex-dividend commences: 18 December 2024; Record date: 20 December 2024; Payment date: 23 December 2024. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to €0.54. The fair value is estimated to be €0.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 37%. Reported Earnings • Aug 04
Full year 2024 earnings released: EPS: R1.47 (vs R1.67 in FY 2023) Full year 2024 results: EPS: R1.47 (down from R1.67 in FY 2023). Revenue: R11.4b (up 1.8% from FY 2023). Net income: R1.53b (down 12% from FY 2023). Profit margin: 13% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Tsogo Sun Limited, Annual General Meeting, Sep 02, 2024 Tsogo Sun Limited, Annual General Meeting, Sep 02, 2024. Location: the main boardroom, of hosken consolidated investment limited, suite 801, 76 regent road, sea point, cape town 8005 South Africa Upcoming Dividend • Jul 17
Upcoming dividend of R0.40 per share Eligible shareholders must have bought the stock before 24 July 2024. Payment date: 29 July 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.6%). Declared Dividend • May 26
First half dividend of R0.40 announced Shareholders will receive a dividend of R0.40. Ex-date: 24th July 2024 Payment date: 29th July 2024 Dividend yield will be 75%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 23
Tsogo Sun Limited Declares Final Gross Cash Dividend for the Year Ended 31 March 2024, Payable on July 29, 2024 The board of directors of Tsogo Sun Limited has resolved to declare a final gross cash dividend of 40.00 cents per share in respect of the year ended 31 March 2024 from distributable reserves. The dividend will be paid in cash to shareholders recorded in the register of the company at close of business 26 July 2024. The number of ordinary shares in issue at the date of this declaration is 1,042,596,816. The dividend will be subject to a local dividend tax rate of 20%, which will result in a net dividend of 32.00000 cents per share to those shareholders who are not exempt from paying dividend tax. The salient dates are as follows: Last date to trade cum dividend is 23 July 2024, Trading ex-dividend commences is 24 July 2024, Record date is 26 July 2024 and Payment date is 29 July 2024. Upcoming Dividend • Dec 05
Upcoming dividend of R0.30 per share at 7.1% yield Eligible shareholders must have bought the stock before 12 December 2023. Payment date: 18 December 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.8%). Reported Earnings • Nov 29
First half 2024 earnings released: EPS: R0.86 (vs R0.64 in 1H 2023) First half 2024 results: EPS: R0.86 (up from R0.64 in 1H 2023). Revenue: R5.74b (up 7.3% from 1H 2023). Net income: R896.0m (up 34% from 1H 2023). Profit margin: 16% (up from 13% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Tsogo Sun Limited Declares Interim Gross Dividend for the Period Ended 30 September 2023, Payable on 18 December 2023 Tsogo Sun Limited has resolved to declare an interim gross cash dividend of 30.0 (thirty) cents per share in respect of the period ended 30 September 2023 from distributable reserves. The dividend will be paid in cash to shareholders recorded in the register of the company at close of business 14 December 2023. Trading ex-dividend commences date is 12 December 2023. Payment date is 18 December 2023. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. CFO & Executive Director Greg Lunga was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 01
Tsogo Sun Limited, Annual General Meeting, Aug 29, 2023 Tsogo Sun Limited, Annual General Meeting, Aug 29, 2023, at 13:00 South Africa Standard Time. Location: The main boardroom of Hosken Consolidated Investments Limited Suite 801, 76 Regent Road, Sea Point Cape Town South Africa Upcoming Dividend • Jul 05
Upcoming dividend of R0.57 per share at 6.8% yield Eligible shareholders must have bought the stock before 12 July 2023. Payment date: 17 July 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.2%). Reported Earnings • May 26
Full year 2023 earnings released: EPS: R1.67 (vs R1.34 in FY 2022) Full year 2023 results: EPS: R1.67 (up from R1.34 in FY 2022). Revenue: R11.3b (up 29% from FY 2022). Net income: R1.74b (up 24% from FY 2022). Profit margin: 15% (in line with FY 2022). Announcement • May 25
Tsogo Sun Gaming Limited Declares Final Gross Cash Dividend for the Year Ended 31 March 2023, Payable on 17 July 2023 The board of directors of Tsogo Sun Gaming Limited has resolved to declare a final gross cash dividend of 57.0 (fifty-seven) cents per share in respect of the year ended 31 March 2023 from distributable reserves. The dividend will be paid in cash to shareholders recorded in the register of the company at close of business 14 July 2023. The number of ordinary shares in issue at the date of this declaration is 1 049 604 443 (excluding the 583 857 treasury shares). The dividend will be subject to a local dividend tax rate of 20%, which will result in a net dividend of 45.60000 (forty-five point six) cents per share to those shareholders who are not exempt from paying dividend tax. The company's income tax reference number is 9250039717. Salient dates for payment of the dividend are: Record date is 14 July 2023. Payment date is 17 July 2023. Announcement • May 19
Tsogo Sun Gaming Limited to Report Fiscal Year 2023 Results on May 25, 2023 Tsogo Sun Gaming Limited announced that they will report fiscal year 2023 results on May 25, 2023 Upcoming Dividend • Dec 14
Upcoming dividend of R0.30 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 28 December 2022. Trailing yield: 4.8%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.1%). Reported Earnings • Nov 25
First half 2023 earnings released: EPS: R0.64 (vs R0.31 in 1H 2022) First half 2023 results: EPS: R0.64 (up from R0.31 in 1H 2022). Revenue: R5.46b (up 43% from 1H 2022). Net income: R671.0m (up 107% from 1H 2022). Profit margin: 12% (up from 8.5% in 1H 2022). Announcement • Nov 22
Tsogo Sun Gaming Limited to Report First Half, 2023 Results on Nov 24, 2022 Tsogo Sun Gaming Limited announced that they will report first half, 2023 results on Nov 24, 2022 Announcement • Sep 13
Tsogo Sun Gaming Limited (JSE:TSG) and others completed the acquisition of Emerald Hotel Resort & Casino South Africa from Metropolitan Gaming Limited. Tsogo Sun Gaming Limited (JSE:TSG) and others agreed to acquire Emerald Hotel Resort & Casino South Africa from Metropolitan Gaming Limited on July 28, 2022.
Tsogo Sun Gaming Limited (JSE:TSG) and others completed the acquisition of Emerald Hotel Resort & Casino South Africa from Metropolitan Gaming Limited on July 28, 2022. Reported Earnings • Aug 03
Full year 2022 earnings released: EPS: R1.34 (vs R0.02 in FY 2021) Full year 2022 results: EPS: R1.34 (up from R0.02 in FY 2021). Revenue: R8.77b (up 54% from FY 2021). Net income: R1.41b (up R1.38b from FY 2021). Profit margin: 16% (up from 0.4% in FY 2021). Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Non Executive Director Farzanah Mall was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 30
Tsogo Sun Gaming Limited, Annual General Meeting, Sep 21, 2022 Tsogo Sun Gaming Limited, Annual General Meeting, Sep 21, 2022, at 10:00 South Africa Standard Time. Location: Tsogo Sun Gaming’s head office, main boardroom, Ground Floor, Palazzo Towers Montecasino Boulevard, Fourways, 2055 Gauteng South Africa Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Non Executive Director Farzanah Mall was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 28
Full year 2022 earnings released: EPS: R1.34 (vs R0.02 in FY 2021) Full year 2022 results: EPS: R1.34 (up from R0.02 in FY 2021). Revenue: R8.94b (up 57% from FY 2021). Net income: R1.41b (up R1.38b from FY 2021). Profit margin: 16% (up from 0.4% in FY 2021). The increase in margin was driven by higher revenue. Announcement • May 25
Tsogo Sun Gaming Limited Provides Group Earnings Guidance for the Year Ended March 31, 2022 Tsogo Sun Gaming Limited provided group earnings guidance for the year ended March 31, 2022. For the period, the group's EPS is expected to be a profit of between 130.3 cents per share and 138.3 cents per share compared to the prior corresponding period's profit of 2.0 cents per share; and HEPS is expected to be a profit of between 106.9 cents per share and 113.5 cents per share compared to the prior corresponding period's loss of 3.1 cents per share. Executive Departure • Oct 07
CFO & Director Annelize Hoyer has left the company During their tenure, the company went from making losses to turning a profit. On the 30th of September, Annelize Hoyer left the company after 1.2 years in the role. We don't have any record of a personal shareholding under Annelize's name. Annelize is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.33 years. Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non Executive Director Farzanah Mall was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 29
Full year 2021 earnings released: EPS R0.02 (vs R0.34 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: R5.69b (down 51% from FY 2020). Net income: R21.0m (up R378.0m from FY 2020). Profit margin: 0.4% (up from net loss in FY 2020). Announcement • Mar 21
Coronation Asset Management Proprietary Limited on behalf of its underlying clients acquired an undisclosed stake in Tsogo Sun Gaming Limited (JSE:TSG). Coronation Asset Management Proprietary Limited on behalf of its underlying clients acquired an undisclosed stake in Tsogo Sun Gaming Limited (JSE:TSG) on March 19, 2021. After this transaction, clients of Coronation Asset Management Proprietary Limited hold 5.05% stake in Tsogo Sun Gaming Limited.
Coronation Asset Management Proprietary Limited on behalf of its underlying clients completed the acquisition of an undisclosed stake in Tsogo Sun Gaming Limited (JSE:TSG) on March 19, 2021. Is New 90 Day High Low • Feb 18
New 90-day high: €0.41 The company is up 148% from its price of €0.17 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 10.0% over the same period. Reported Earnings • Nov 22
First half 2021 earnings released: R0.53 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: R1.57b (down 74% from 1H 2020). Net loss: R550.0m (down 185% from profit in 1H 2020). Announcement • Nov 20
Tsogo Sun Gaming Limited Does Not Declare an Interim Dividend for the Six Months Ended 30 September 2020 The board of directors of Tsogo Sun Gaming Limited has resolved not to declare an interim dividend in respect of the six months ended 30 September 2020. 
