Announcement • May 27
Sygnia Limited to Report First Half, 2026 Results on Jun 08, 2026 Sygnia Limited announced that they will report first half, 2026 results on Jun 08, 2026 Upcoming Dividend • Dec 24
Upcoming dividend of R1.33 per share Eligible shareholders must have bought the stock before 30 December 2025. Payment date: 05 January 2026. Payout ratio and cash payout ratio are on the higher end at 93% and 93% respectively. Trailing yield: 6.2%. Lower than top quartile of South African dividend payers (7.5%). In line with average of industry peers (6.0%). Declared Dividend • Dec 10
Final dividend increased to R1.33 Dividend of R1.33 is 4.7% higher than last year. Ex-date: 30th December 2025 Payment date: 5th January 2026 Dividend yield will be 6.4%, which is higher than the industry average of 6.0%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) nor is it adequately covered by cash flows (93% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.3% to bring the payout ratio under control, which is less than the 11% EPS growth achieved over the last 5 years. Reported Earnings • Dec 09
Full year 2025 earnings released: EPS: R2.49 (vs R2.29 in FY 2024) Full year 2025 results: EPS: R2.49 (up from R2.29 in FY 2024). Revenue: R1.07b (up 13% from FY 2024). Net income: R382.3m (up 10% from FY 2024). Profit margin: 36% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 08
Sygnia Limited, Annual General Meeting, Jan 26, 2026 Sygnia Limited, Annual General Meeting, Jan 26, 2026. Location: 7th floor, the foundry, cardiff street, green point, cape town, 8001, South Africa Upcoming Dividend • Jun 18
Upcoming dividend of R0.98 per share Eligible shareholders must have bought the stock before 25 June 2025. Payment date: 30 June 2025. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 7.6%. Lower than top quartile of South African dividend payers (8.2%). Higher than average of industry peers (6.9%). Declared Dividend • Jun 04
First half dividend increased to R0.98 Dividend of R0.98 is 8.9% higher than last year. Ex-date: 25th June 2025 Payment date: 30th June 2025 Dividend yield will be 8.5%, which is higher than the industry average of 6.0%. Sustainability & Growth Dividend is covered by both earnings (89.8% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 18% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Declared Dividend • Dec 06
Final dividend increased to R1.27 Dividend of R1.27 is 3.3% higher than last year. Ex-date: 23rd December 2024 Payment date: 30th December 2024 Dividend yield will be 9.4%, which is higher than the industry average of 6.0%. Sustainability & Growth Dividend is covered by earnings (1% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Oct 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to R21.59. The fair value is estimated to be R17.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 7.8%. Announcement • Aug 22
Sygnia Limited Announces Change to the Social and Ethics Committee Sygnia Limited announced that Mr. Rashid Ismail will replace Ms Niki Giles on the Company's Social and Ethics Committee with effect from 1 September 2024. In addition, Sygnia welcomes Mr. Aboubakar Jakoet who joins the Social and Ethics Committee with immediate effect. Mr. Jakoet will chair the Committee. Announcement • Jul 25
Sygnia Limited Announces Change of Financial Director Sygnia Limited announced that Ms Niki Giles will step down as Financial Director of the Company, with effect from 31 August 2024. Ms Giles will remain involved in the Company, heading up its strategic initiatives. Mr. Rashid Ismail has been appointed as the Financial Director of the Company with effect from 1 September 2024. Mr. Ismail is a Chartered Accountant and has worked for the Company for the past 11 years. He is currently the Head of Finance of the Company, a role he has held for the past 6 years. The board is confident that Mr. Ismail will assist in steering Sygnia into its next chapter. Announcement • Jul 08
Sygnia Limited Announces Change of Company Secretary Sygnia Limited announced that Mr. Glen MacLachlan has stepped down as the Company Secretary with effect from 5 July 2024. The Company's board of directors is pleased to further advise that Ms. Leanne van Wyk has been appointed as the Company Secretary, with effect from 5 July 2024. Ms. van Wyk's background spans a wide range of legal areas relevant to Sygnia's business. She has twice been President of the Pension Lawyers Association of South Africa and is currently a National Steering Committee member. She also serves on the FSCA's Market Conduct Regulatory Framework Committee and Retirement Fund Committee, as well as on the Legal and Tax Committee of the Institute of Retirement Funds Africa. She has also served as a trustee for various large retirement funds. Most recently, Leanne was a director of her own legal services business, providing independent legalcounsel to numerous financial institutions. She previously held several senior legal roles during her long tenure at a large financial services company, including the position of Group Legal Counsel. Upcoming Dividend • Jun 19
Upcoming dividend of R0.90 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 01 July 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 10.0%. Within top quartile of South African dividend payers (9.1%). Higher than average of industry peers (6.1%). Announcement • Jun 06
Sygnia Limited Declares Gross Dividend for the Six Months Ended March 31, 2024, Payable on July 1, 2024 Sygnia Limited on June 4, 2024 declared a gross dividend of 90.0 cents per share for the six months ended March 31, 2024 out of retained income, resulting in a net dividend of 72.0 cents per share for shareholders after dividends tax (DT). In compliance with the JSE listings requirements, the following dates are applicable: Last day to trade: June 25, 2024; share trade ex-dividend: June 26, 2024; Record date: June 28, 2024; Payment date: July 1, 2024. Recent Insider Transactions Derivative • Dec 20
Head of Technology & Executive Director exercised options to buy R1.5m worth of stock. On the 12th of December, Wojtek Wierzycki exercised options to buy 84k shares at a strike price of around R18.97, costing a total of R1.6m. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. Wojtek currently holds less than 1% of total shares outstanding. This was the only transaction from an insider over the last 12 months. Announcement • Dec 14
Sygnia Announces Appointment of Joanna Corelli as an Executive Director Sygnia announced the appointment of Ms. Joanna Corelli as an executive director of the Company with immediate effect. Ms. Corelli has more than two decades of experience in marketing and is Global Head: Marketing at Sygnia. During her tenure at Sygnia, she spearheaded the marketing department, expanding assets from ZAR 4.7 billion to over ZAR 232.9 billion and introducing several key products. Her extensive background includes a role as Senior Producer at MTV Networks, where she innovated digital content strategies, along with various media production roles at major U.S. networks. Holding a BA (Hons) in Art History from the University of Cape Town, Ms. Corelli began her professional journey at the South African National Gallery and the Market Theatre. Ms. Corelli replaces Mr. Wojtek Wierzycki (Head of Systems and Development) who has resigned as a director of the Company with immediate effect. The board thanks Mr. Wierzycki for his contribution as a director of the Company. Upcoming Dividend • Dec 13
Upcoming dividend of R1.23 per share at 11% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 27 December 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 11%. Within top quartile of South African dividend payers (9.4%). Higher than average of industry peers (6.2%). Announcement • Dec 05
Sygnia Limited, Annual General Meeting, Feb 08, 2024 Sygnia Limited, Annual General Meeting, Feb 08, 2024, at 10:00 South Africa Standard Time. Location: 7th Floor, The Foundry, Cardiff Street, Green Point Cape Town South Africa Reported Earnings • Dec 05
Full year 2023 earnings released: EPS: R1.99 (vs R1.91 in FY 2022) Full year 2023 results: EPS: R1.99 (up from R1.91 in FY 2022). Revenue: R843.9m (up 4.3% from FY 2022). Net income: R299.8m (up 4.6% from FY 2022). Profit margin: 36% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Nov 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 219% High level of non-cash earnings (23% accrual ratio). Minor Risk Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Announcement • Oct 19
Sygnia Limited Announces Mcebisi Jonas Resigned as A Non-Executive Director In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised that Mr. Mcebisi Jonas has resigned as a non-executive director of Sygnia Limited with immediate effect. Mr. Jonas has decided to pursue business interests which, by their nature, compete with the business of the Company, necessitating his resignation. Announcement • Aug 08
Sygnia Limited Announces Board Changes Sygnia Limited announced that Mr. Aboubakar (Bakar) Jakoet has been appointed as an independent non-executive director of Sygnia with effect from 07 August 2023. Mr. Jakoet, a qualified Chartered Accountant, was the Chief Financial Officer and Executive Director of Pick n Pay Stores Ltd. ("Pick n Pay") up until his resignation in 2019. He was appointed as CFO and a member of the Pick n Pay board in 2011. He continues to serve on the board of directors of Pick n Pay in a non-executive capacity. He is the Chairperson of the Group Audit Risk and Compliance Committee as well as a member of the Remuneration Committee. In addition to his responsibilities at Pick n Pay, Mr. Jakoet was a member of the University of Cape Town Council, and is Deputy Chairman of the UCT Finance Committee. Mr. Jakoet is also a non-executive director of Oceana Group Limited, Chairman of their Risk Committee and a member of the Audit committee. Shareholders are advised further that the Sygnia board of directors has appointed Mr. Jakoet as a member of its Audit & Risk Committee. Announcement • Jun 17
Sygnia Limited Announces Resignation of Clarissa Appana as Non-Executive Director Sygnia Limited advised that Ms Clarissa Appana has resigned as a non-executive director of the Company with effect from 30 June 2023. Ms Appana has taken up a full-time position as the CFO of another company, necessitating her departure. Upcoming Dividend • Jun 14
Upcoming dividend of R0.87 per share at 13% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 26 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 13%. Within top quartile of South African dividend payers (9.5%). Higher than average of industry peers (5.8%). Announcement • Jun 06
Sygnia Limited Announces Interim Gross Dividend, Payable on 26 June 2023 Sygnia Limited announced a interim gross dividend of 87.0 cents per share was declared on 5 June 2023 out of retained income, resulting in a net dividend of 69.6 cents per share for shareholders after dividends tax (DT). In compliance with the JSE listings requirements, the following dates are applicable: Last day to trade: 20 June 2023. Share trade ex-dividend: 21 June 2023. Record date: 23 June 2023. Payment date: 26 June 2023. Announcement • May 19
Sygnia Limited Appoints Niki Jane Giles as Financial Director Sygnia Limited announced the appointment of Ms. Niki Jane Giles as the Financial Director of the Company with immediate effect. Ms. Giles was previously employed by Sygnia from its inception on 1 November 2006, and acted as the Financial Director of the Company from its listing on the JSE on 14 October 2015 until 1 February 2017, whereafter she continued to serve as the Chief Operating Officer of the Sygnia Group until 30 September 2018. Ms. Giles rejoins Sygnia after almost 5 years, and look forward to the resumption of her contribution to the growth and success of the Sygnia Group. Announcement • Feb 11
Sygnia Limited Appoints Carmen Le Grange as the New Financial Director Effective 1 April 2023 Sygnia Limited announced the appointment of Ms Carmen Le Grange as the new Financial Director of the Company with effect from 1 April 2023. Ms Le Grange is a qualified Chartered Accountant CA(SA) with over 25 years' experience in providing audit and consulting services to a wide variety of corporates in South Africa. She spent 16 years at PricewaterhouseCoopers Inc., 11 of which were as a senior partner in the advisory and consulting practice, and served previously as the Group Chief Financial Officer for Denel SOC. Ms Le Grange has also served as an independent non-executive director on boards of a number of JSE-listed companies, including in the role of chairperson of audit and risk committees. Announcement • Feb 01
Sygnia Limited Announces resignation of Murad Sirkot as the Financial Director, Effect from 1 April 2023 Sygnia Limited announced that Mr. Murad Sirkot has resigned as the financial director of the Company with effect from 1 April 2023 to pursue other career opportunities. Upcoming Dividend • Dec 14
Upcoming dividend of R1.30 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 28 December 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 11%. Within top quartile of South African dividend payers (8.7%). Higher than average of industry peers (5.8%). Reported Earnings • Dec 06
Full year 2022 earnings released: EPS: R1.91 (vs R1.71 in FY 2021) Full year 2022 results: EPS: R1.91 (up from R1.71 in FY 2021). Revenue: R808.9m (up 9.7% from FY 2021). Net income: R286.7m (up 19% from FY 2021). Profit margin: 35% (up from 33% in FY 2021). Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 26% per year. Announcement • Dec 06
Sygnia Limited, Annual General Meeting, Jan 30, 2023 Sygnia Limited, Annual General Meeting, Jan 30, 2023. Location: 7th Floor, The Foundry, Cardiff Street Green Point, Cape Town, 8001 Cape Town South Africa Recent Insider Transactions Derivative • Aug 26
CEO & Executive Director exercised options to buy R666k worth of stock. On the 18th of August, David Hufton exercised options to buy 40k shares at a strike price of around R16.97, costing a total of R679k. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. Since September 2021, David has owned 2.38m shares directly. Company insiders have collectively bought R1.1m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jun 22
Upcoming dividend of R0.80 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 04 July 2022. Payout ratio is on the higher end at 85%, and the cash payout ratio is above 100%. Trailing yield: 8.9%. Within top quartile of South African dividend payers (8.8%). Higher than average of industry peers (6.7%). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 17% share price gain to R18.00, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 10x in the Capital Markets industry in South Africa. Total returns to shareholders of 133% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of R0.80 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 03 January 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of South African dividend payers (7.4%). Higher than average of industry peers (5.5%). Upcoming Dividend • Oct 06
Upcoming dividend of R0.48 per share Eligible shareholders must have bought the stock before 13 October 2021. Payment date: 18 October 2021. Trailing yield: 6.0%. Lower than top quartile of South African dividend payers (8.0%). Higher than average of industry peers (5.3%). Executive Departure • Aug 05
Independent Non Executive Director Herschel Mayers has left the company On the 29th of July, Herschel Mayers' tenure as Independent Non Executive Director ended after less than a year in the role. We don't have any record of a personal shareholding under Herschel's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 4.63 years. Upcoming Dividend • Jun 16
Upcoming dividend of R0.55 per share Eligible shareholders must have bought the stock before 23 June 2021. Payment date: 28 June 2021. Trailing yield: 6.8%. Lower than top quartile of South African dividend payers (7.7%). Higher than average of industry peers (5.8%). Reported Earnings • Jun 11
First half 2021 earnings released: EPS R0.75 (vs R0.64 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: R350.5m (up 14% from 1H 2020). Net income: R105.8m (up 16% from 1H 2020). Profit margin: 30% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 03
New 90-day high: R20.79 The company is up 22% from its price of R17.10 on 03 December 2020. The South African market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 4.0% over the same period. Executive Departure • Feb 04
Independent Non Executive Director has left the company On the 28th of January, Andre Crawford-Brunt's tenure as Independent Non Executive Director ended after 2.2 years in the role. As of September 2020, Andre personally held 9.81m shares (R141m worth at the time). A total of 3 executives have left over the last 12 months. Announcement • Jan 29
Sygnia Limited Announces the Executive Changes Sygnia Limited at its annual general meeting held on January 28, 2021 approved the election of non-executive director Mr. H Mayers who was appointed during the year, election of Audit and Risk Committee member Mr. G Cavaleros,
Chairman, election of Audit and Risk Committee member Ms C Appana. The company also announced that prior to the company's Annual General Meeting, Mr. Andre Crawford-Brunt withdrew his availability for re-election as a non-executive director of the company. Mr. Crawford-Brunt has accordingly retired as a non-executive director of the company with effect from January 28, 2021 in accordance with the director rotation provisions of the company's Memorandum of Incorporation. Upcoming Dividend • Dec 23
Upcoming Dividend of R0.70 Per Share Will be paid on the 4th of January to those who are registered shareholders by the 29th of December. The trailing yield of 7.0% is below the top quartile of South African dividend payers (9.2%), but is in line with industry peers (6.9%). Reported Earnings • Dec 09
Full year 2020 earnings released: EPS R1.46 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R661.0m (up 30% from FY 2019). Net income: R206.1m (up 64% from FY 2019). Profit margin: 31% (up from 25% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 04
New 90-day high: R18.44 The company is up 32% from its price of R14.00 on 04 September 2020. The South African market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 17% over the same period. Announcement • Dec 04
Sygnia Limited to Report Fiscal Year 2020 Results on Dec 08, 2020 Sygnia Limited announced that they will report fiscal year 2020 results on Dec 08, 2020 Valuation Update With 7 Day Price Move • Dec 01
Market bids up stock over the past week After last week's 21% share price gain to R17.50, the stock is trading at a trailing P/E ratio of 14.6x, up from the previous P/E ratio of 12.1x. This compares to an average P/E of 11x in the Capital Markets industry in South Africa. Total returns to shareholders over the past three years are 44%. Is New 90 Day High Low • Nov 14
New 90-day high: R14.95 The company is up 13% from its price of R13.25 on 14 August 2020. The South African market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 10
New 90-day high: R14.58 The company is up 12% from its price of R13.01 on 10 July 2020. The South African market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is flat over the same period.