The National Stock Exchange Branch of Côte d'Ivoire of the Regional Stock Exchange (BRVM), organized on Wednesday, June 10, 2020, 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? ». This conference was moderated by Mr. Charles KIE, Co-founder and CEO of New African Capital Partners.

The speaker 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 the financial considerations that must prevail when making the payment decision or no 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 treated rigorously by company managers by seeking to reconcile the often divergent interests of all stakeholders.

It therefore recommends that companies take the precautionary principle into account in their decision, bearing in mind above all the need to maintain equity in the medium and long term. The speaker also urged listed companies to be transparent with their institutional and individual shareholders, and to adopt a good financial communication strategy in this context.

The Director General of the Brvm and the DC/BR, Dr. Edoh Kossi Amenounve thanked Charle Kié for his intervention. Before reiterating the availability of its structure to support listed companies in their financial communication strategy. He also made a commitment to continue public education and information actions for the harmonious development of the regional market of the West African Economic and Monetary Union (WAEMU).

But before, Mrs. Corine Ormon, director of the national branch of Bourse de Côte d'Ivoire stressed that in this context of unprecedented health crisis, many voices have been raised to ask for a freeze on dividends to be paid to shareholders. For her, even if it is legally possible to pay dividends, the precautionary principle must apply.