Capitec dividend jumps as Michiel Le Roux earns $64M payout

South African billionaire Michiel Le Roux, co-founder of Capitec Bank, is set for a $63.8 million payday after the lender declared its full-year dividend on the back of stronger earnings and customer growth.

Capitec, based in Stellenbosch, announced a dividend of R9.27 billion ($563.04 million) for the fiscal year ended Feb. 28, 2026, a 22.58% increase from the prior year. The payout for the full year will give shareholders R79.8 ($4.85) per share, with distribution scheduled for Oct. 27. This is in line with Capitec’s ordinary dividend policy, paying out 55% of R16.8 billion ($1.02 billion) headline earnings.

Le Roux, who served as Capitec’s chief executive and later chairman, remains its single largest individual shareholder with 13.14 million shares, or 11.32% of the company. His stake means he will receive R1.05 billion ($63.74 billion), up from the R857 million ($52.14 million) he collected from last year’s dividend.

Capitec profit rises 22.46% to $1.02 billion

The higher dividend follows strong full-year results. Capitec, South Africa’s biggest digital bank, posted a profit of R16.84 billion ($1.02 billion), up nearly 22.46% from the prior year’s R13.75 billion ($837.1 million). The increase was helped by higher lending activity, stronger fee income, and continued uptake of digital services, even as consumers faced pressure from higher living costs.

Net interest income rose 19% to R24.1 billion ($1.46 billion), supported by increased lending across both consumer and small business segments. Personal and business loan disbursements grew 27% and 48%, respectively, reflecting steady demand for credit despite tighter economic conditions.

At the same time, interest income expanded 14%, underlining the bank’s continued reliance on retail lending. Non-interest income also contributed to the result. Net transaction and commission income rose 9% to R15.43 billion ($940 million), while net insurance income increased 38% to R5.22 billion ($318 million). Together, these streams lifted total non-interest income to R28.3 billion ($1.72 billion), compared with R23.8 billion ($1.44 billion) the previous year.

Capitec delivers growth, boosts shareholder payout
Founded in 2001 by Le Roux, Jannie Mouton and Riaan Stassen, Capitec has grown from a small retail player into one of South Africa’s largest banks with a capitalization of R509 billion ($30.92 billion), serving millions of customers with savings, loans, and everyday banking services. Its total assets increased 10% to R263.28 billion ($16.02 billion), while equity attributable to shareholders increased by 17% to R59.44 billion ($3.61 billion). Retained earnings climbed by 19.25 to R53.53 billion ($3.25 billion).

South African billionaire Michiel Le Roux, co-founder of Capitec Bank.

For investors, the dividend increase underscores Capitec’s ability to generate consistent growth while returning cash to shareholders. For Le Roux, it marks another substantial payout from the bank he helped build into a cornerstone of South Africa’s financial sector.