Glaxo SmithKline proposes dividend worth N478.4 million for shareholders.

The Board of Directors of Glaxo Smith Kline Plc has proposed a sum of N478.4 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the company’s secretary, Uchenna Uwechia and sent to the Nigerian Exchange Group.

According to the notice, the approval of the proposed dividends will see the pharmaceutical firm pay out a dividend of 40 kobo for each of the outstanding 1,195,876,488 ordinary shares of the company, held by its shareholders.

It is pertinent to note that the proposed dividend for the period is less than the sum of N657.7million proposed and paid in corresponding period last year (55 kobo per share). This is attributable to a decline recorded in key financial metrics for the period, such as: PAT (-32.2% YoY), EPS (-32.5% YoY) etc.

Ceteris Paribus, the proposed dividend if ratified will be disbursed to qualified shareholders’ on 28th of May, 2021.  The qualified shareholders are those, whose names appear in the Register of Members as at close of trading on 23rd of April, 2021. Sequel to this, the Register of Members will be closed from 26th-30th of April, 2021 with both dates inclusive.

In addition, shareholders are urged to complete the e-dividend registration and submit to the Registrar (Greenwich Registrars and Data Solutions Limited).

What you should know:

  • Glaxo SmithKline earlier reported a profit after tax of N622.2 million in FY 2020.
  • The firm will convey an Annual General Meeting on 27th of May, 2021 at GSK House, Ilupeju- Lagos to discuss and approve the proposed dividend.
  • The firm closed trading for the week ended 23rd of April, 2021 with a share price of N6.5

For more information about the proposed dividend, click HERE.

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