Zeder NAVPS falls 28.6% amid special dividends, write-downs

Zeder Investments (JSE:ZED) reported a 28.6% decrease in net asset value per share (NAVPS) to R1.77 as of February 28, 2025, compared to R2.48 the previous year. The decline was attributed primarily to special dividends totaling 61.0 cents per share and downward valuation adjustments in Zaad, specifically relating to its Turkish associate investment and African operations. The company also announced a loss of 10.0 cents per share, a marked decrease from the previous year’s profit of 0.8 cents. Additionally, the report highlights the disposal of individual pome assets for Zeder, which generated R713m for Capespan Agri. Zeder declared a further R54m special dividend from Pome Investments subsequent to year-end. The company is cautious given the volatile markets, but remains well positioned to grow.