Cartrack cuts dividend as it plans to invest for growth

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.