The Board of Caverton Offshore Support Group Plc has approved a dividend payment of 10 kobo per share to shareholders who currently hold the 3,350,509,750 fully paid ordinary shares of the company.
This notice is part of the resolutions reached at the recently concluded 12th Annual General Meeting of the company held on 27th of May, 2021.
In light of this, a total of N335.05 million will be disbursed as dividend for the aforementioned period.
Recall that Caverton Offshore Support Group Plc suffered a dip in its key financial metrics for the year ended 2020. Profit after tax declined by 73% to N1.18 billion. Others like revenue, earnings per share, etc., all dipped during the aforementioned period.
Consequently, a lower dividend of 10 kobo per share was proposed. This is about 50% less than the proposed figure of 20 kobo in corresponding period last year (FY 2019)