Ethiopian Securities Exchange (ESX) clarifies dividend and financial year cut-off policies

Yodit Kassa, the newly appointed CEO of the Ethiopian Securities Exchange (ESX), has clarified policies regarding dividend distribution and financial cut-off dates. She emphasized that calculating dividends based on specific months and days is not suitable for a modern stock market environment. The ESX has proposed using either June 30, the end of the financial year, as a cut-off date or utilizing the date when audited financial statements or dividend announcements are made public. Meanwhile, the exchange continues to show activity, with 75,620 shares traded over the last five working days, representing a total value exceeding 150.53 million Birr.