Dividend policy

Sun International’s dividend policy is to return cash to shareholders through ordinary cash dividends, guided by a target payout of approximately 75% of adjusted headline earnings per share (AHEPS). Dividends are typically declared on a semi‑annual basis, subject to earnings, cash generation, balance‑sheet strength and capital requirements.

Our dividend — Sun International

Here, we provide a comprehensive overview of our dividend distributions and payment policies, in line with our commitment to transparency and creating shareholder value. Delve into current and historical dividend data in the links and tables below.

Dividend dates and payments

Historical dividend data

Why invest? Our equity story

The Sun International share

252
cents

H2 2025 cash dividend (cps)

100
cents

special dividend (cps)

8 April
2026

Ex. div.

13 April
2026

Payment date

cps = cents per share

Dividend policy, Board and AGM approval

The Board of Directors determines and approves interim ordinary cash dividends, subject to the authority granted by shareholders, and recommends the final dividend for approval by shareholders at the Annual General Meeting (AGM).

In determining interim dividends and recommending the final dividend, the Board considers the group’s earnings, cash generation, capital expenditure requirements, financing position and balance‑sheet flexibility.

Sun International’s dividend policy is to return cash to shareholders through ordinary cash dividends, guided by a target payout of approximately 75% of adjusted headline earnings per share (AHEPS). Dividends are typically declared on a semi‑annual basis.

Capital Markets Update

The Sun International Share

Our Board of Directors

Our Annual General Meeting (AGM)

Dividend dates and payments

Dividends declared by Sun International are subject to South African dividends tax, which is withheld at source at a rate of 20% for shareholders who are not exempt. Shareholders who are eligible for a reduced rate or exemption under an applicable double taxation agreement must ensure that the required documentation is submitted to the relevant intermediary in advance of the dividend payment. For further information, shareholders are encouraged to consult the South African Revenue Service (SARS) or their broker.

Dividends are declared in South African cents per share and are paid in South African rand to shareholders registered on the record date. Dividend payment dates, record dates and ex‑dividend dates are announced through SENS and on the Sun International website. Shareholders are advised to contact their broker or custodian for settlement and payment details.

Dividend Payments

2025

	Ordinary Cash dividend	Extraordinary Cash dividend	Announcement date	Ex-dividend date	Record date	Payment date
Final 2025	Ordinary Cash dividend: 252c	Extraordinary Cash dividend 100c	Announcement date 16 Mar 2026	Ex-dividend date 8 Apr 2026	Record date 10 Apr 2026	Payment date 13 Apr 2026
Interim 2025	Ordinary Cash dividend: 172c		Announcement date 8 Sep 2025	Ex-dividend date 23 Sep 2025	Record date 26 Sep 2025	Payment date 29 Sep 2025

Total Cash dividend for 2025 is 524c.

Capital Allocation

Focused on protecting the business, growing long-term value, and returning excess cash to shareholders.

Invest in organic growth

Targeted technology investment to support efficiency, scale, and customer engagement
Delivery of the value creation plan
Sustaining and enhancing asset competitiveness and productivity

Inorganic opportunities

Disciplined M&A aligned to strategic priorities
Exit non-core and structurally low-return assets
Rationalisation of minority shareholdings
Investment returns targeted in excess of WACC

Balance sheet resilience

Maintain a targeted net debt to Adjusted EBITDA ratio of approximately 2.0x over the longer term

Consistent shareholder returns

Maintain a dividend payout ratio of 75% of AHEPS over the longer term
Return excess capital through dividends and share buybacks

Framework for returning excess capital to shareholders

Delivering total shareholder returns

Share buybacks

Executed when the share price trades at a material discount to intrinsic value
Value accretive, supporting growth in AHEPS and dividends per share

Special dividends

Return of non-recurring surplus capital to shareholders
Underpinned by strong cash generation and balance-sheet capacity
Integral to a disciplined capital allocation framework focused on maximising total shareholder returns

Executing our capital allocation framework

2025 - maintain the ordinary dividend at 75% of AHEPS
- 172cps Interim dividend
- 252cps Final dividend
- 424cps Total dividend (Totalling R1.1bn)
Special Dividend R1 per share special dividend paid alongside the 2025 final dividend
Execute 3 year approved buyback: up to 2% of shares per annum, under strict pricing and liquidity controls
- During 2025, a share buyback programme was implemented as part of the group’s capital allocation framework. In line with this programme, the group repurchased 2.5 million ordinary shares for a total consideration of R100 million, at an average repurchase price of R40.65 per share. The repurchased shares were cancelled and restored to authorised share capital. The buyback was executed within the group’s solvency and liquidity parameters and reflects management’s disciplined approach to capital allocation and commitment to enhancing shareholder value.
Balance-sheet capacity for value-accretive opportunities preserved