Super Group announces dividend program
Super Group declared its first dividend after a strong financial performance, including increased revenue and profit in the first quarter of 2024.
Super Group, the parent company of Betway and Spin, has declared a dividend program and its first cash dividend on its ordinary shares, set at $0.10 per share.
This follows the Board of Directors’ decision to initiate a dividend program. The dividend will be payable on 17 July 2024.
The company plans to continue paying regular dividends of at least $0.10 per share annually, subject to Board approval and business conditions.
Starting in the first quarter of 2025, Super Group intends to pay dividends quarterly, pending financial performance and strategic considerations.
This announcement comes after a strong financial start to 2024 for Super Group. The company reported a 12% increase in revenue year-on-year for the first quarter, reaching €379.3m ($407.7m).
This growth was reportedly driven largely by gains in Africa and North America, particularly Canada, despite declines in the Middle East and Asia-Pacific markets. The online casino segment, led by Spin, saw a 20.2% increase in revenue compared to the same period last year.
For the first quarter of 2024, Super Group reported a profit of €41m, an improvement from the €1.9m loss recorded in the first quarter of 2023. Adjusted EBITDA also rose by 29% to €46.5m.
Additionally, the number of monthly active customers increased from 3.5 million to 4.7 million, indicating an expanding user base.
In April 2024, Super Group appointed Elen Barber as its new CMO. Barber, who previously held the same position at Kindred Group, is expected to bring her experience to Super Group’s marketing strategies.
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