Weight­ing in Sa­trix Divi ETF

Finweek English Edition - - COVER STORY -

Sa­sol

Oceana

MTN

Coro­na­tion Fund Man­agers

Lewis Group

Vo­da­com

Kumba Iron Ore

Gold Fields

Al­tron Pref­er­ence Share

Lib­erty Hold­ings

5.3%

4.7%

4.6%

4.2%

4.03%

3.6%

3.59%

3.57%

3.5%

3.4%

Be­fore tack­ling the in­di­vid­ual small caps, it is im­por­tant to un­pack the div­i­dend forecasts for the small-cap shares, which are far more un­pre­dictable; it is a valu­able ex­er­cise to look at th­ese two counters as they are likely to be held by in­di­vid­u­als ei­ther di­rectly or through their pen­sion funds.

Ac­cord­ing to an­a­lyst con­sen­sus fore­cast on FT.com, Vo­da­com has 16 an­a­lysts cov­er­ing the stock and mak­ing forecasts on what will hap­pen with the div­i­dend. Con­sen­sus fore­cast is that the com­pany will de­liver R8.34 in div­i­dends, which rep­re­sents a 6.1% in­crease year on year. It is in­ter­est­ing to note that Vo­da­com has in fact beaten an­a­lyst con­sen­sus fore­cast on its div­i­dend in­crease for the last three years.

A point raised by Imara SP Reid an­a­lyst Si­bonginkosi Nyanga is that man­age­ment

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