Vodacom has published its annual report for the year ended 31 March 2016, which shows that CEO Shameel Joosub received remuneration of R21,796,600 for the past financial year.
Joosub’s total pay package included a guaranteed salary of R7,825,000, and a short-term incentive of R13,968,000.
Joosub’s large bonus is on the back of strong results from Vodacom, which saw revenue up 7.5% and a 12.8% EBITDA increase to R30 billion.
Other high-earning executive directors at Vodacom include chief officer for enterprise Vuyani Jarana, with a pay package of R8,950,160, and former CFO Ivan Dittrich at R7,712,433.
The table below shows how much Vodacom’s executive directors got paid for the year ended 31 March 2016.
In May, Vodacom reported a 7.4% rise in group service revenue to R66.76 billion, in results for the year ended March 2016, underpinned by improved trends in voice revenue and data revenue growth of 28.5%.
Revenue grew at 7.5%, to R80 billion, supported by strong demand for devices, particularly smartphones, the group said.
In South Africa, service revenue returned to growth increasing 4.9% (R49.3 billion) mainly due to the growth in mobile data and fixed-line services, and improving voice revenue growth trends, Vodacom said.
Vodacom announced a final dividend per share of 400 cents, taking the total dividend to 795 cents per share for the year.
Source: Business Tech