Monday June 22, 03:17 PM
STOCKS NEWS AFRICA-Telkom rises as dividend cheers investors
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Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
1312GMT 22June2009 - S.Africa's Telkom gains as dividend pleases
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Telkom, Africa's biggest fixed-line operator, gains 3 percent on Monday after the company pleases investors with a better-than-expected dividend.
Telkom reported a 46 percent fall in full-year headline earnings per share,
in line with its own forecast, and said total cash distribution to shareholders would be 2,275 cents per share. It declared an ordinary dividend of 115 cents per share and a special dividend of 260 cents per share.
'The results that came out were in line with expectations. Dividend suprise on the upside,' one trader said.
Telkom rises 3.09 percent to 36.08 rand by 1351 GMT, outperforming a 1.43 percent weaker JSE Top-40 index of blue chips.
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