Chamwe Kaira
Old Mutual Limited has confirmed the finalisation of its interim dividend, with Namibian shareholders set to receive 37 cents per share.
The company, listed on the Johannesburg, London, Malawi, Zimbabwe and Namibian stock exchanges, declared the dividend on 10 September.
The payment will be made on 6 October 2025 to all shareholders, except those on the London register, who will receive their dividends on 3 November.
For Namibian investors, the payout equals 37 cents per share, reflecting the 1:1 parity between the Namibian dollar and the South African rand.
South African shareholders will be subject to a 20% dividend withholding tax, leaving them with 29.6 cents per share unless exempt or eligible for reduced rates under a double taxation agreement.
Namibian shareholders will receive dividends in Namibian dollars, subject to local tax requirements. Old Mutual confirmed the dividend equivalents across its markets as 37 Namibian cents per share, 36.43 Malawian kwacha per share, 5.5 pence per share in the United Kingdom and 2.1 US cents per share in Zimbabwe.
With more than 4.71 billion ordinary shares in issue, Old Mutual remains one of the region’s largest financial institutions. Through its Namibian Stock Exchange listing, the company continues to deliver returns to local shareholders.
In its Integrated Report for the year ended 31 December 2024, Old Mutual said Life Annual Premium Equivalent sales increased 17% to just over N$1 billion. Growth was supported by stronger retail sales from improved adviser productivity in Namibia and higher corporate sales in Malawi.
The company said the value of new business and its margin were lower than the prior year due to assumption changes to better anticipate expenses.
“These changes were partially offset by a positive product mix in Malawi, weighted towards more profitable product lines and higher volumes sold in Namibia. Gross flows of N$23 billion grew by 47% relative to the prior year due to a large short-term mandate obtained in Malawi and increased flows in Namibia’s international funds due to improved investment performance,” Old Mutual said.
Despite increased outflows from the short-term mandate in Malawi, strong inflows resulted in net client cash flow of N$4.4 billion, up 54% from the prior year.
Management results from operations rose 48% on the back of higher fees earned from larger funds under management, improved investment returns, rental income and fair value gains on properties in Malawi.
Life and savings results from operations increased 5% due to higher investment returns, asset-based fees, and profits from an associate investment in Malawi.
The company noted this was offset by lower mortality profits in Malawi and higher expenses in Namibia following updated cost assumptions.
