Johannesburg - Empowerment broadcasting firm Kagiso Media lifted chief executive Roger Jardine's total remuneration by 90 percent to R4.52 million in the year to June.
During the year, shareholders received R55 million in dividends. The company's earnings a share rose 16 percent to 70.2c.
The shares of Kagiso Media had surged 63.5 percent in the year after touching a 71.7 percent high September. It rose 0.11 percent yesterday to close at R9.26. The media sector gained 0.72 percent.
According to its annual report, Jardine's total remuneration included a R2.65 million gain made on selling 477 046 shares. It also included a bonus of R766 000 and a R1.1 million salary.
The group said the package was determined by the remuneration committee after commissioning a third party investigations to provide it with benchmarks in setting directors' salaries.
Pieter Jacobs, Kagiso's finance director and company secretary, took home nearly R4 million. This included a bonus of R405 000 and R2.54 million in gains made on shares. His basic salary was R970 000.
Jardine's total remuneration was more than that of Johnnic Communications' chief executive, Connie Molusi, who earned R2.35 million in the year to March. Saki Macozoma, New Africa Investments Limited's former chief executive, earned more than R2.3 million in the year to December.
"Kagiso Media has positioned itself over the years as a business that outperforms its peers," said Eric Molobi, Kagiso's non-executive chairman.
Earnings before interest, tax, depreciation and amortisation, rose 18 percent to R105 million and revenue increased 14 percent to R297 million. Kagiso Media had R88.3 million in cash reserves and no debts.
Kagiso Media owns stakes in Kagiso Exhibitions, Butterworth Publishers, Kagiso Branding and Marketing, East Coast Radio, Jacaranda 94.2, OFM and radio advertising sales house RadMark.
It is 67 percent-owned by empowerment companies. Kagiso Trust Investments owns 43.9 percent, Tiso Capital Partners hold 12.2 percent and Video Vision Investments has 11.1 percent.