Reinet Investments, an international investment corporation established in Luxembourg and controlled by Johann Rupert, South Africa’s wealthiest individual, has declared a large increase in its net asset value (NAV) for the fiscal year ending March 31, 2024.
The NAV reached €6.18 billion ($6.73 billion), an 8.1 percent gain over the previous year and a consistent compound annual growth rate (CAGR) of 8.8 percent since March 2009, including dividend payments.
Reinet’s net assets increased by €464 million ($504.77) from €5.72 billion ($6.22 billion) to €6.18 billion ($6.73 billion), as reported in its most recent financial statement.
During the fiscal year, Reinet invested €61 million ($66.43 million) to new and existing investments, totaling €128 million ($139.38 million). This strategic allocation demonstrates Reinet’s proactive strategy to broadening its portfolio and capitalizing on growth prospects.
Significant dividends from its holdings increased Reinet’s income from €164 million ($178.63 million) to €212 million ($230.92 million). British American Tobacco contributed €130 million ($141.56 million) in dividends, while Pension Insurance Corporation Group Limited gave its first payout of €57 million ($62.07 million).
Reinet paid out a dividend of €0.3 ($0.327) per share, totaling around €55 million ($59.9 million), excluding treasury shares.
Following the 2024 annual general meeting, the company intends to reward shareholders with a total dividend of €0.35 ($0.3812) per share, demonstrating its commitment to providing continuous returns to shareholders.
Reinet Investments, which was formed through a demerger from Richemont in 2008, has strengthened its position in the tobacco business while broadening its portfolio into the insurance and private equity sectors, with a significant focus on British American Tobacco.
Johann Rupert’s 24.9 percent ownership in Reinet adds significantly to his $13.2 billion fortune, according to the Bloomberg Billionaires Index. His share in the investment entity is currently worth $1.17 billion.
Reinet’s solid financial performance and commitment to a progressive dividend policy indicate the company’s dedication on creating long-term value for shareholders, even in the face of global market uncertainty. The company’s active management approach and diverse assets have allowed it to raise its NAV and achieve long-term growth.
