Trustco Dividends Lie Unclaimed

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By Desie Heita

Windhoek

The more than two thousand minority shareholders in Trustco group have not claimed their dividends for the last financial year, as the amounts on the cheques received are too little to cash.

Minority shareholders received dividend cheques of as little as N$7 with the average highest amount being N$20.

For the period ended March 31, 2007, Trustco posted a net profit of N$33 million and declared a dividend of 2,5 cents per share. This was the first annual financial report after listing on the Namibia Stock Exchange in September 2006.

“I told them to keep their money. Considering the bank fees, a cheque of N$20 is not worth cashing or depositing in the bank,” said one of the minority shareholders who talked to New Era.

During the listing Trustco floated 46?

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