AVI declares hefty special dividend as debt falls

Covid-19 boosted parts of snacks and beverages division, but hit fashion and abalone sales

Consumer goods group AVI — the owner of footwear retailer Spitz stores, Five Roses tea, and seafood company I&J — has opted to pay out R926m in a special dividend, citing strong cash generation and healthy debt levels amid Covid-19.

The group, which has a market value of R24.6bn, said the pandemic had a mixed effect on its businesses, boosting parts of its snacks and beverages division, but hitting fashion and perlemoen sales...

This article is reserved for HeraldLIVE subscribers.

A subscription gives you full digital access to all our content.

Already subscribed? Simply sign in below.

Already registered on DispatchLIVE, BusinessLIVE, TimesLIVE or SowetanLIVE? Sign in with the same details.

Questions or problems? Email helpdesk@heraldlive.co.za or call 0860 52 52 00.