This Wednesday, June 10, 2020, the BRVM's Antenne Nationale de Bourse de Côte d'Ivoire organized a webinar on the theme: "Shareholders of listed companies and the payment of dividends: what are the challenges in the face of the COVID-19 pandemic? 19? ". This conference was moderated by Mr. Charles KIE, Co-founder and CEO of New African Capital Partners.

"In this context of unprecedented health crisis, many voices have been raised to demand a freeze on dividends to be paid to shareholders because even if it is legally possible to pay dividends, the precautionary principle must apply" indicated from the outset Mrs. Corinne ORMON, Director of the National Stock Exchange Antenna of Côte d'Ivoire, to announce the problem of the webinar.

Mr. Charles KIE, the speaker of the day, focused his intervention on four points in particular, the context of the crisis, the principles underlying the payment of dividends, particularly their structural nature, the role of regulators in the management of systemic risks and finally, the financial considerations which must prevail when taking the decision of payment or not of dividends.

For him, the question of the dividend, which is a return of a share of the capital of a company to its shareholders, must be dealt with rigorously by business leaders by seeking to reconcile the often divergent interests of all parties. stakeholders.

He recommended that companies take into account the precautionary principle in their decision-making bearing in mind to preserve equity in the medium and long term. Finally, he urged listed companies to be transparent vis-à-vis their shareholders, institutional and private, and to adopt a good financial communication strategy in this context.

The Managing Director of BRVM and DC/BR, Dr Edoh Kossi AMENOUNVE concluded the conference by warmly thanking Mr Charles KIE for his brilliant presentation of the dividend puzzle. He reiterated the availability of the BRVM to support listed companies in their financial communication. He also confirmed the commitment of the BRVM and the DC/BR to continue their public education and information actions for the harmonious development of the WAEMU regional financial market.