Cutix Plc released its fourth quarter unaudited results for the period ended 30th April, 2021.
See link to results.
The Board of Total Nigeria Plc has announced that it will be hosting its 43rd Annual General Meeting on the 17th of June, 2021.
This is according to a notification signed by the company’s secretary, Olubunmi Popoola-Mordi, and seen by Nairametrics. Sequel to this, the following issues will be discussed;
What you should know:
For more information about the AGM, click HERE.
The Board of Directors of GlaxoSmithKline Plc (GSK) has announced the appointment of Dr Amina Salihu into its Board, as an independent non-executive Director, effective from 28th of May, 2021.
This is according to a disclosure signed by the company’s secretary, Uche Uwechia and sent to the Nigerian Exchange Group Plc (NGX).
Dr Salihu is a renowned consultant, social entrepreneur and feminist. She is a Senior Program Officer with the MacArthur Foundation Africa Office. She is also a member of the Governing Council of Ekiti State University (EKSU) and a coordinator of the Ministry of Finance Technical Working Group on gender, employment and disability inclusion for the Nigeria Agenda 2050 policy development process.
She is an alumna of the prestigious Ahmadu Bello University where she obtained her B.SC. and M.Sc degrees in Political Science. She also obtained further degree (PhD) from the University of Abuja.
Given her background and diverse experiences, the Board of GSK expressed optimism that her addition would bring significant value and diversity to the team.
In another development, the Board also announced the resignation of Mr Uchenna Uwechia as the company secretary and legal director, effective from 1st of June, 2021. His resignation was duly accepted by the Board, after 15 years of meritorious service.
In a bid to fill the vacuum created by the departure of Mr Uwechia, the Board named Mr Frederick Ichekwai as the acting secretary of the company. He will provide leadership for the company secretariat pending further resolutions.
Flour Mills of Nigeria has acquired 20,450 hectares of land in Umaisha Development Area of Toto Local Government Area in Nasarawa state, in a bid to expand its sugar backward integration program (BIP).
This is according to a disclosure signed by the company’s secretary, Joseph Umolu, and sent to the Nigerian Exchange Group Plc (NGX).
According to the notice, the signing ceremony was scheduled to hold today, 28th of May, 2021 in Abuja. The ceremony will mark the official handover of the land by the Governor, Engineer Abdullahi Sule to the Flour Mills of Nigeria (FMN) management team.
It is pertinent to note that the recent action is sequel to a similar investment executed by the firm at Sunti, Niger State. In light of this, the firm believes that these moves are part of its commitment to the backward integration programme of the Nigerian Sugar Master Plan and the overall growth strategy of the sugar industry in Nigeria.
Sequel to the signing ceremony today, it is anticipated that land preparation, including surveys and the initial designs will start immediately. The goal is to develop up to 15,000 hectares and to construct a befitting sugar mill.
The project is estimated to be worth at least $300 million and it is believed that when completed, will positively impact neighbouring communities through community improvement projects such as access roads, electrification projects, primary healthcare etc. These community improvement projects are already earmarked to begin soon.
Sequel to the approval granted at the recently concluded 12th Annual General Meeting of the company, Dangote Cement Plc has announced the renewal of its Share Buyback Programme.
According to a disclosure signed by the company’s secretary, Edward Imoedemhe and seen by Nairametrics, the renewal of the Share Buyback Programme is premised on timelines and terms to be determined by Board of Directors, subject to obtaining requisite regulatory approval.
It is worthy to note that Nairametrics had earlier reported the initial commencement of the programme, in which the firm is expected to buy back 85 million issued shares of the company. The programme was meant to be effected in tranches, and the first tranche was executed by Meristem Stockbrokers Limited and Vetiva Securities Limited.
The Share Buy-Back Programme is in line with the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations (as applicable) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Stock Exchange (“The NSE”).
However, given the debilitating impact of the COVID-19 pandemic, the firm disclosed that it became apparently difficult for it to effectively implement the programme as planned. With the recent stabilization of the economy and improvement in economic conditions, evident by the growth in the nation’s GDP, the Board of Directors consequently agreed to fully implemnent further tranches of the programme.
For more information about the recent disclosure, click HERE.
The Board of Directors of Dangote Cement Plc has approved a dividend payment of N16 per share, to all shareholders whose names appeared in the Company’s Register of Members at the close of business on April 27, 2021.
This is part of the resolutions reached at the recently concluded 12th Annual General Meeting of the company, held on the 26th of May, 2021 at Eko Hotels and Suites, Victoria Island, Lagos.
Recall that the company had earlier reported a 38% surge in its profit after tax to N276.07 billion in FY 2020. Other key financial metrics like revenue and EPS all recorded a surge of 16% and 38% respectively.
Sequel to these impressive gains, a dividend of N16 was declared. This dividend figure remains unchanged when compared with 2019 figure. In light of this, the Board considers the dividend level appropriate and in line with the company’s strategic growth objectives. Accordingly, the approved dividend will be paid on all the 17,040,507,405 units of outstanding shares of the company, totalling N272.65 billion.
On the other hand, the company revealed that the total amount of unclaimed dividends outstanding as at 31st of December, 2020 is N4 billion, indicating an increase of about 14.3% YoY.
For more information, click HERE.
Honeywell Flour Mills Plc has released its full-year results for the year ended 31st March, 2021.
See link to results.
Seplat Petroleum Development Company, a leading indigenous oil and gas company in Nigeria, has announced that an exchange rate of N410.29/$ will be applicable in the determination of its proposed interim dividend of 2.5 cents
According to a disclosure signed by the Chief Financial Officer of the company, Emeka Onwuka and published on the website of the Nigerian Exchange Group Plc (NGX Plc), the rates will be applicable to any shareholder that qualifies for and has elected to receive the dividend payment in Naira of GBP.
The exchange rates for the naira and the pound sterling amounts payable to shareholders were respectively determined with specific reference to the dollar, given that the company is listed on both the Nigerian Exchange Limited and London Stock Exchange.
Exchange rate
It is pertinent to note that the recent exchange rate announced by the firm for Q1 2021 interim dividend payment, is slightly higher than the FY 2020 figures by 0.01%, translating to a nominal increase of about 5 kobo. As at the period of writing this, CBN’s official exchange rate currently stands at N410.25/$1.
For more information about the disclosure, click HERE
The Board of Directors of Lafarge Africa Plc has approved the payment of N16.11 billion to the shareholders of the company who currently hold the 16,107,795,496 fully paid ordinary shares of the company.
This disclosure is part of the resolutions passed at the 62nd Annual General Meeting of the company, held on the 25th of May, 2021.
According to the notice: ‘’ A dividend of One Naira (N1.00) per ordinary share amounting to N16, 107,795,721.00 only was declared payable from the pioneer reserve and not subject to deduction of withholding tax in respect of the year ended 31st December, 2020; on Tuesday, 25th May 2021, to all shareholders registered in the books of the Company at the close of business on Friday, 30th April, 2021.’’
Other resolutions reached at the Annual General Meeting include;
What you should know:
For more information about the disclosure, click HERE.
The Board of CHAMS PLC has announced that it will be hosting its 37th Annual General Meeting on the 22nd of June, 2021.
This is according to a notification signed by the company’s secretary, Yetunde Emmanuel and seen by Nairametrics. Sequel to this, the following issues will be discussed;
What you should know:
For more information about the AGM, click HERE.