NVFH 2020 Integrated Annual Report
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NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)
Annual Financial Statements for the year ended 29 February 2020
Directors’
Report
The directors have pleasure in submitting their report on the annual financial statements of NVest Financial Holdings Limited
and its subsidiaries and the group for the year ended 29 February 2020.
1. Review of financial results and activities
The consolidated annual financial statements have been prepared in accordance with International Financial Reporting
Standards and the requirements of the Companies Act 71 of 2008. The accounting policies have been applied consistently
compared to the prior year.
Full details of the financial position, results of operations and cash flows of the group are set out in these consolidated annual
financial statements.
2. Share capital
2020 2019
Authorised
Number of shares
Ordinary shares 1,000,000,000 1,000,000,000
2020 2019 2020 2019
Issued R R Number of shares
Ordinary shares 326,154,200 324,779,200 303,241,722 302,741,722
There have been no changes to the authorised or issued share capital during the year under review.
3. Dividends
The company’s dividend policy is to consider an interim and a final dividend in respect of each financial year. At its discretion,
the directors may consider a special dividend, where appropriate. Depending on the perceived need to retain funds for
expansion or operating purposes, the directors may pass on the payment of dividends.
A final dividend (number 9) of 6.25 cents per share (R18,921,358) was declared on 20 May 2019 and paid on 18 June 2019. This
in respect of the year ended 28 February 2019.
An interim dividend (number 10) of 5.25 cents per share (R15 920 190) was declared on 18 November 2019 and paid on
9 December 2019 in respect of the year ended 29 February 2020.
4. Share incentive scheme
Refer to note 37 of the consolidated annual financial statements for details of the group share incentive scheme.
NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 75