Bašumi Trust delivers third annual dividend payout to PepsiCo South Africa beneficiaries
The Bašumi Trust, established by PepsiCo South Africa as part of the acquisition of Pioneer Foods, has paid close to 10 000 qualifying beneficiaries a third annual dividend, totalling R28.6 million. The Bašumi Trust was established as PepsiCo SA’s B-BBEE employee share ownership scheme.
According to the rules of the Bašumi Trust, the payment is a distribution of 50 percent of the dividends received from PepsiCo Inc. shares for the four quarters of 2024, less taxation. The latest dividend payment brings the total payments to beneficiaries close to R80 million since the Trust’s inception.
“Beneficiaries of the Bašumi Trust who have been part of the Trust since its inception will also receive their inaugural milestone payment at the end of this year, which is estimated to be in the region of R30 000, less tax per beneficiary” added PepsiCo South Africa Chief Executive Officer Riaan Heyl.
PepsiCo, Inc FY and Q4 earnings
Speaking on the earnings results released on Tuesday 4 February, Chairman and CEO of PepsiCo Inc, Ramon Laguarta explained, “Our businesses remained resilient in 2024, despite subdued category performance trends in North America, and business disruptions due to geopolitical tensions in certain international markets”.
“Our international business delivered 6% organic revenue growth in 2024, or 9% organic revenue growth on a two-year compounded basis. Our $37 billion international business represented nearly 40% of total PepsiCo net revenue in 2024”.
“Looking ahead to 2025, we will continue to build upon the successful expansion of our international business, while also taking actions to improve performance in North America. We expect to deliver low-single-digit organic revenue growth and mid-single-digit core constant currency EPS growth in 2025”.
The company has also announced a 5% increase in its dividend (effective with the June 2025 payment) which represents the 53rd consecutive annual increase.
“It is encouraging to see that South Africa contributed high single-digit growth to the overall performance, despite the current macro-economic challenges in our country, and that the beneficiaries of our Bašumi Trust continue to benefit from the construct of the Trust with shares held in PepsiCo Inc.” concludes Heyl.
Read the full PepsiCo, Inc. Q4 2024 Earnings Press Release here