Capitec to Pay Record Dividend After Profit Hits New High

Capitec Bank Holdings Ltd. said it will pay a dividend that beat analysts’ estimates after profit at South Africa’s biggest bank by clients jumped to a record for a fifth straight year.

Headline earnings climbed 23% to 16.8 billion rand ($1 billion) in the year to Feb. 28 from 13.7 billion rand a year earlier. That compared with the median estimate of 16.9 billion rand, according to 10 analysts surveyed by Bloomberg.