Ordinary Dividend Policy
Investec group has a target dividend payout ratio of 30% to 50% of the consolidated Investec Group’s adjusted earnings per share. Interim and final dividends will be declared and proposed in accordance with this policy. Interim and final dividends will be declared and proposed in accordance with the above policy.
Note: All dividends were cash dividends.
In terms of the implementation of Investec's Dual Listed Company structure, the Investec Holdings (Inhold) pyramid structure, which had been in place since Investec Group Limited listed on the JSE in 1988, was not considered appropriate under the changed circumstances and Inhold unbundled its entire shareholding in Investec Group Limited to Inhold members. With effect from 19 July 2002 Inhold ordinary shares were suspended on the JSE and the delisting of Inhold from the JSE took place on 26 July 2002.