- Tsaone Segaetsho
Botswana Stock Exchange (BSE)-listed Chobe Holdings, after a meeting of its board of directors last week, declared a dividend of 80 thebe per share (net of withholding tax) out of retained earnings.
Chobe Holdings Limited, which owns and operates eleven eco-tourism lodges and camps on leased land in Northern Botswana and the Caprivi Strip in Namibia through its subsidiaries, announced last week Friday that the salient dates of the dividend are as follows: 11 June 2024 (ex-dividend date); Thursday, 13 June 2024 (last date to register/record) and Tuesday, 25 June 2024 (payment date).
During the same period in May 2023, signaling the financial results for the year ended 29 February 2023, Chobe Holdings’ dividend was declared at 60 thebe, 20 thebe less than that what is declared before the release of financial results of the year ending 29 February 2024, to be published at the end of May.
The declaration of dividends, which is higher than that of last year, comes on the back of another positive announcement by Chobe Holdings on Wednesday last week, of the group’s profit before tax for the year ended 29 February 2024, likely to be between 44–54 percent (approximately BWP 60 to 73 million) higher than that reported for the comparative period ended 28 February 2023, which amounted to a profit of BWP 135.6 million.
The group will be publishing its audited consolidated summarised financial results for the year ended 29 February 2024 on or before 31 May 2024, which will have positive results composing of the outcomes of Chobe Holdings’ above average performance in luxury travel experiences.
In February this year, according to Chobe Holdings 2024 Business Update, there has been a trend of increased demand for luxury travel experiences, driven by evolving travel patterns and flexible work practices, which the group expects to result in an upsurge in revenue over this period.
According to the company, while the tourism sector has been living under the hangover of the effects of the COVID-19 pandemic, Chobe Holdings has witnessed a soaring return to pre-pandemic lead times and has seen a notable rise in short lead-time travel bookings. The company also acknowledges a substantial recovery in demand from online tour operators.
To bolster their revenue or to answer to high demand of their luxury travel experiences, Chobe Holding has announced that the plans to rebuilt Savute Safari Lodge is underway and it is seen to be aiming at bolstering long-term profitability despite short-term setbacks.
Chobe Holdings Limited also owns Safari Air, which provides an air charter service to transport guests to and from safari camps and lodges. Chobe Holdings also holds interests in agricultural operations, property rental and reservation services.
