South African billionaire Christo Wiese-backed Shoprite rewards investors with $91.5 million payout

Key Points

• Shoprite declared an interim dividend per share of $0.155, reflecting a 6.7% increase, rewarding shareholders amid continued expansion.
• Revenue climbed 9.4% to $7.1 billion, with merchandise sales reaching $6.98 billion, driven by solid supermarket performance.
• The retailer opened 283 new stores, rolled out a new POS system, and executed a $54 million share buyback to drive efficiency.

Shoprite Holdings, Africa’s largest retailer and partly owned by South African billionaire Christo Wiese, has declared an interim dividend of $91.1 million following a strong financial performance in the first half of its 2025 fiscal year. The payout reflects the company’s commitment to rewarding shareholders while navigating economic pressures.

Shoprite’s profit, sales surge

For the 26 weeks ended Dec. 29, 2024, Shoprite reported a 9.4 percent increase in revenue to R130.8 billion ($7.1 billion), up from R119.5 billion ($6.48 billion) in the previous year. Merchandise sales grew 9.6 percent to R128.6 billion ($6.98 billion), while its South African supermarket unit surpassed R100 billion ($5.43 billion) in half-year sales for the first time.

Diluted headline earnings per share (DHEPS) rose 9.9 percent to R6.6 ($0.358), and the interim dividend per share was set at R2.85 ($0.155). The total dividend payout of R1.68 billion ($91.45 million) represents a 6.7 percent increase from the previous year and will be distributed to shareholders on Mar. 31, 2025.

Shoprite’s ability to sustain growth despite economic challenges stems from its disciplined strategy, focus on volume-driven sales, and investment in digital innovation. The retailer opened a net 283 new stores over the past 12 months, further expanding its presence across Africa. CEO Pieter Engelbrecht highlighted the rollout of a new point-of-sale system across 2,450 stores, a project that required over 60,000 hours of implementation.

Balancing growth and shareholder returns

With over 3,600 stores and more than 150,000 employees across Africa, Shoprite continues to strengthen its market leadership. Christo Wiese, who holds an 11.5 percent stake in the company, remains a key figure in its expansion. With a net worth of $1.5 billion, Wiese’s influence has helped drive strategic growth initiatives over the years.

Alongside the $91.1 million dividend payout, Shoprite has executed a R997 million ($54.04 million) share buyback, underscoring its balanced approach to rewarding shareholders while reinvesting in its operations. The retailer is expanding its Checkers, Shoprite, and Usave brands while leveraging digital tools and data-driven strategies to enhance efficiency. Despite economic uncertainty, its core supermarket operations remain its strongest growth driver, cementing its position as Africa’s leading retailer.