Cartrack, the listed supplier of fleet-management and stolen-vehicle-recovery services, has reduced dividend payments in order to settle its debt and to pursue growth opportunities, says CEO Zak Calisto.
Calisto said the company has prioritised paying off its R190m debt in about 18 months. With a debt-free balance sheet, the group will pursue growth opportunities, he said. In the year to February, Cartrack cut its final gross dividend from the previous 28c per share to 12c.
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