Zeder opts for prudence as Russia-Ukraine conflict batters agrisector

As the Russia-Ukraine conflict persists, investment holding company Zeder took a "prudent" decision to hold on to some cash if its subsidiaries require "ammunition". 

The group on Wednesday released its financial results for the year ended 28 February 2022. It declared a special dividend of 92.5 cents per share. Over the past three years, Zeder has returned as much as R7.3 billion to shareholders through the special dividends and the unbundling of companies Kaap Agri and The Logistics Group (TLG).

During a question-and-answer session, CEO Johann le Roux was asked why the group opted to keep some R400 million in the bank instead of distributing it as a dividend. According to Le Roux, this was a "prudent" decision given that the world is still facing the Covid-19 pandemic, and now the Russia and Ukraine conflict is another element of uncertainty.