Cartrack cuts dividend as it plans to invest for growth
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Cartrack has cut its final dividend for the year to end-February, despite higher profits, as it plans to “invest for growth”. The company's subscriber base grew 28% to 960,798 in the year, helping it lift profit after tax by 16.3% to R361m.
But Cartrack cut its final gross dividend to 12c a share, from 28c previously. Cartrack CEO Zak Calisto spoke to Business Day TV about where the company will be investing as it looks for growth.
But Cartrack cut its final gross dividend to 12c a share, from 28c previously. Cartrack CEO Zak Calisto spoke to Business Day TV about where the company will be investing as it looks for growth.