Despite a second year of falling profits, Bolloré Africa Logistics Côte d'Ivoire wishes to distribute dividends to shareholders for the 2019 financial year. A decision that will offset part of the loss per share that the company is experiencing this year on the

Bolloré Africa Logistics Côte d'Ivoire plans to distribute a gross dividend of 5.4 billion FCFA for the 2019 financial year.

This proposal is one of the resolutions submitted to the vote by shareholders at the General Meeting scheduled for November 17, 2020. It has chances of passing, because only one group (Bolloré) directly and indirectly controls more than 70% of the capital of this

The decision should also appeal to people who are shareholders of the rest of the 20.08% of the company, according to market data. They will thus share a gross dividend of just over 1.88 billion FCFA. Investors should be happy about that

On 2 November, Bolloré Africa Logistics CI shares on the BRVM had a value that had fallen by 17% since the beginning of 2020. The company also has reservations. Despite this distribution of dividends, its deferral is again just over 9 billion FCFA

However, we can question this decision to compensate shareholders, when in 2019, net profit fell for the second consecutive year since 2017. At the same time, 2020 does not look any better.

With the coronavirus, the business segment that depends on the air transport sector has taken a hit due to travel restrictions imposed by the pandemic. The relockdown that is taking place in several of Côte d'Ivoire's partner countries is not helping matters

Recall that at the end of the first 9 months of the current year, net profit was 10.7 billion FCFA, up 1.5% compared to that of the same period in 2019. But this net margin was supported by dividends received from subsidiaries.

Upstream of the income statement, there is a turnover of 61.2 billion FCFA, which is down by 5.8% compared to that of the same period in 2019.