KWV Investments Limited, a Johannesburg Securities Exchange listed subsidiary of the KWV Group, which holds an effective 30% share of Distell, has declared a 47.5c dividend following the release of Distell's annual figures on Monday.

This is down from the 55.7c declared last year.

The KWV Group has about 55% of the subsidiary's listed shares. KWV Investments received an increased dividend from Distell of R44.59m  for the year ended 30 June, 2002 and compared with R7.04m for the same period last year, a 533% increase over last year.

Headline earnings were up 35% to R85.3m compared with 2001 figures of R62.9m. Its profit before taxation was R70.4m compared with R34.m last year.

Each KWV Investment share represents 1,397 issued shares in Distell. The dividend income of KWV Investments is sourced solely from Distell.