Datatec founder and CEO Jens Montanana is set for a more than $81 million payday after the Johannesburg-listed technology group declared a special dividend of R7.05 billion ($435 million) following the completion of its Westcon International refinancing and minority investment transaction.

Jens Montanana, who founded Datatec in 1986, owns 44.94 million Datatec shares, representing a 19.01% stake in the company, according to the group’s latest disclosed shareholder information.

At the declared gross dividend of R29 ($1.81) per share, his stake would qualify for R1.3 billion ($81.32 million), based on the exchange rate implied by Datatec’s announcement. The amount would be approximately R1.04 billion ($64.3 million) after South Africa’s 20% dividend withholding tax, assuming he is subject to the full rate and elects the cash option.

Datatec declares R7 billion ($435 million) special dividend

Datatec, an international information and communications technology group, has declared a special cash dividend of 2,900 South African cents per ordinary share, equivalent to R29 a share. The company will distribute R7.053 billion, or approximately $435 million, to shareholders following the completion of its transaction involving Westcon International Group Holdings, the intermediate holding company of the Westcon group.

The transaction, which was announced in June and completed on Aug. 4, 2026, involved the refinancing of Westcon International and a minority investment by Atlantic Park Strategic Capital II Designated Activity Company and Atlantic Park Strategic Master Fund III, L.P.

Datatec said the special dividend will be funded from its distributable retained profits, with all transaction-related costs absorbed by the company to maximise the amount returned to shareholders.

The dividend will be paid to shareholders registered at the close of business on Friday, Oct. 16, 2026, subject to exchange-control approval. Shareholders will also have the option to receive new Datatec shares instead of the cash dividend, either for all or part of their holdings.

Jens Montanana’s Datatec stake worth more than $81 million in dividend

Jens Montanana is Datatec’s founder and chief executive officer and has led the company since establishing it in 1986. The group listed on the Johannesburg Stock Exchange in 1994.

Datatec’s latest disclosed shareholder information shows jens Montanana as the company’s second-largest significant shareholder, with 44,937,489 shares, equivalent to 19.01% of issued shares. The Government Employees Pension Fund, through the Public Investment Corporation, holds 48,520,678 shares, or 20.53%.

At R29 ($1.81) per share, Jens Montanana’s holding translates into a gross special dividend of approximately R1.30 billion. Using Datatec’s stated conversion of R7.053 billion to approximately $435 million, the payout is equivalent to roughly $80.4 million, while the current conversion places what he stands to earn at $81.3 million.

The gross payout is subject to a 20% dividend withholding tax for shareholders not exempt from the tax. For a shareholder liable for the full rate, Jens Montanana’s estimated net cash distribution would therefore be about R1.04 billion, or approximately $64.3 million.

Datatec offers scrip alternative

Rather than receiving the special cash dividend, Datatec shareholders can elect to receive new, fully paid ordinary shares. The issue price for the scrip distribution will be based on Datatec’s 30-day volume-weighted average price on the JSE for the period ending Oct. 5, 2026, less the R29 special dividend.

Unlike the cash dividend, the scrip distribution will not be subject to dividend withholding tax under the Income Tax Act. Shareholders can also elect the scrip alternative for only part of their holdings and receive the cash dividend on the remainder. Datatec said fractional share entitlements will be rounded down, with shareholders receiving a cash payment for the fractional portion. That payment will be calculated using the VWAP of Datatec shares on Oct. 14, discounted by 10%.

Westcon deal unlocks $435 million for Datatec shareholders

The special dividend follows Datatec’s strategic transaction involving Westcon International, one of its two principal operating businesses alongside Logicalis.

Datatec announced in June that the Westcon transaction would generate cash proceeds of approximately $434 million for the group.

The transaction included the refinancing of a $450 million intercompany fixed-return shareholder loan advanced by Westcon International to Westcon International Group Holdings through a new six-year $375 million senior secured debt facility provided by General Atlantic.

Datatec said the transaction would allow it to retain control of Westcon while partnering with General Atlantic as a minority investor and lender, providing additional capital to support expansion.

The company operates across more than 50 countries through Westcon International, which focuses on technology distribution, and Logicalis International and Logicalis Latin America, which provide integration and managed services.

Datatec set to return billions to shareholders

The R7.05 billion special dividend represents a substantial return of capital to Datatec shareholders following the Westcon transaction.

Shareholders must trade Datatec shares by Tuesday, Oct. 13, to qualify for the special dividend and scrip distribution, with the shares trading ex-dividend from Wednesday, Oct. 14.

The record date is Friday, Oct. 16, while cash payments and the crediting of scrip distribution shares are scheduled for Monday, Oct. 19, 2026.

The final scrip distribution ratio will be announced by Datatec on SENS by 11 a.m. on Tuesday, Oct. 6, following determination of the relevant 30-day VWAP and confirmation of exchange-control approval.