Letlole la rona distributes dividends

Letlole la rona has declared distribution of shares worth over Forty-eight billion pula (P48 625 880.00).

Despite the economic effects of the Corona Virus Disease (COVID-19) pandemic, Letlole la rona has distributed dividends which are worth over last year’s dividends. The company’s dividends are distributed at seven point seventy-four percent (7.74%) more than the preceding year.

“The Board of Directors declared a final distribution for the period ending 30 June 2021. The distribution comprises a dividend of 0.05 thebe and interest of 9.4117thebe per linked unit. This brings the final distribution to 9.4617 thebe per linked unit, a total of P26,492,760.The total distribution for the 2020/21 financial year therefore amounts to P48,625,880.00 (being a dividend of 0.10 thebe per share and interest of 17.27 thebe per linked unit).This compares favourably with a final distribution of 8.929 thebe per linked unit declared in the prior comparative year, and represents a 7.74 per cent increase of P3,492,680 in year-on-year distributions, despite significant challenges as a result of Covid-19 economic lockdowns.” the notice by the company highlighted.

Letlole La Rona Limited, listed on the Botswana Stock Exchange, is a real estate development and management company that owns and operates commercial and industrial properties in Botswana which includes hotels, warehouses and factories.

The focus of the company property portfolio is on industrial properties. Letlole La Rona Limited has thirteen (13) industrial properties in its portfolio; as well as Moedi House which is a commercial property; Shoppers which is retail property; Red Square which is a residential development; and four hospitality properties which are Bosele Hotel, President Hotel, Cresta Lodge and Thapama Lodge. Letlole La Rona Limited is a subsidiary of Botswana Development Corporation Limited.

Much of Letlole la Rona Limited stake is owned by the Botswana Development Corporation (BDC), followed by the Botswana Public Officers Pansion Fund (BPOPF).

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