Online Annual Report 2009


















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Foreign shareholdings 2009 (%)

Further reading

More detail on our shares and shareholder information can be found here.

Investor relations

We strive to provide useful and frequent disclosure to our shareholders, regardless of how hard this may be in periods of difficulty or underperformance.

Massmart reports formally to shareholders twice a year (in February and August) when its half-year and full-year results, together with a thorough executive overview, are announced and issued to shareholders and the media. On both occasions the Chief Executive Officer, Chief Financial Officer and certain Group executives give presentations to institutional investors, analysts and the media.

Analyst presentation and preliminary announcement                                            
Final dividend declared                                            
Cape Town institutional investor roadshow                                            
Johannesburg institutional investor roadshow                                            
Final dividend paid                                            
United States institutional investor roadshow                                            
United Kingdom institutional investor roadshow                                            
Publication of annual report                                            
Annual General Meeting                                            
Financial half-year                                            
Analyst presentation and interim preliminary announcement                                            
Interim dividend declared                                            
Cape Town institutional investor roadshow                                            
Johannesburg institutional investor roadshow                                            
Interim dividend paid                                            
Financial year-end                                            

Early in January and July, shortly after the conclusion of the half-year and full-year trading periods, on release of the annual report and at the Group’s annual general meeting in November, Massmart releases sales updates reporting on the Group’s year-to-date sales performance. In addition, annually in May, the Group CEO and CFO host a day-long visit by institutional analysts and investors to Massmart stores. A sales update is released along with this visit.

During the year, apart from closed periods, the Chief Executive Officer and Chief Financial Officer together meet regularly with institutional shareholders and, in addition, are available for meetings or conference calls with analysts and any existing or prospective Massmart shareholder.

Profits are distributed to our shareholders at interim and year-end by way of a cash dividend. The dividend is calculated based on a dividend cover of 1.7 on headline earnings unless circumstances dictate otherwise. Despite the slightly lower headline earnings and this policy, the Board has decided to maintain this year's dividend at the same level as last year. A further dividend is distributed to our Thuthukani shareholders, arising from the Massmart black economic empowerment transaction which came into effect in October 2006. The Thuthukani dividend is calculated based on the ordinary dividend multiplied by 75%. This will become 100% in 2010, and remain that way thereafter.

Dividend payment vs dividend cover

Dividend payment vs dividend cover

Company Secretary

I Zwarenstein, CA(SA)

Contact details

Registered office
Massmart House
16 Peltier Drive
Sunninghill Ext 6
Sandton 2191
South Africa

Postal address
Private Bag X4
South Africa

Telephone number
+ 27 (0) 11 517 0000

Facsimile number
+ 27 (0) 11 517 0020


Company registration number
(incorporated in South Africa)

JSE share code

ISIN code

Corporate partners

Transfer secretaries
Computershare Investor Services (Pty) Ltd
70 Marshall Street

Principal bankers
Nedbank Group Limited
ABSA Bank Limited
The Standard Bank of South Africa Limited
First National Bank (A division of FirstRand Bank Limited)
Investec Bank Limited

Deloitte & Touche

Corporate law advisors
Edward Nathan Sonnenbergs
Cliffe Dekker Hofmeyr

Lead sponsor
Deutsche Securities

Design partners

Publisher annual report

M Nicolaou (People photography)
Objektiv (Store photography)