Nigerian Breweries announces option for shareholders to receive final dividend as new shares instead of cash.

The Nigerian Breweries Plc has proposed a ‘’Scrip Dividend Election Scheme’’, that gives qualified shareholders the opportunity to choose to receive their final dividends in the form of new ordinary shares in the company instead of cash.

This is according to a notification sent by the company to the Nigerian Stock Exchange platform, as seen by Nairametrics.

Outlining the benefits of the scheme, the notice remarked that qualified shareholders who opted to receive new ordinary shares would thus be able to increase the number of shares they hold in the company without incurring capital market transaction costs. In addition, the scheme has the potential of helping the company to retain cash (for working capital purposes) that it would have paid out in dividends.

It is pertinent to note that ‘Qualified Shareholders’ in this context are those, whose names appear in the company’s register of members as at close of business on the 10th of March, 2021.

What you should know:

  • Recall that Nigeria Breweries Plc had earlier announced a profit of N7.53 billion in FY 2020. Sequel to this, a final dividend of 69 kobo per share was proposed by the Board.
  • Qualified shareholders who wish to opt for the scheme are expected to complete an Election form (available HERE) and return same to First Registrars and Investors Service Limited on or before the 12th of April, 2021.
  • It is pertinent to note that the number of new ordinary shares to be received by qualifying shareholders who elect for new shares, will depend on their respective cash dividend entitlements (less withholding tax) and the reference share price.

Julius Berger Nigeria Plc proposed final dividend of N633.6 million for shareholders.

The Board of Directors of Julius Berger Nigeria Plc has proposed a final dividend of 40 kobo for every share of 50 kobo held by shareholders, amounting to a total of N633.6 million for the year ended 2020.

This is according to a disclosure signed by the company’s secretary, C.E Madueke, and sent to the Nigerian Stock Exchange.

According to the notice, dividends will be paid electronically to qualified shareholders’ on 18th of June, 2021. The qualified shareholders are those, whose names appear in the Register of Members as at the close of trading on 28th of May, 2021.  Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (Greenwich Registrars and Data Solution Limited) to pay their dividend directly into their bank accounts.

On the other hand, the board of the company also proposed a bonus issue of one (1) new ordinary share for every ninety-nine (99) existing ordinary share held by shareholders.

What you should know:

  • The Bank is expected to discuss this proposed dividend in its Annual General Meeting scheduled to hold on 17th of June, 2021 at Shehu-Musa Yar’Adua center, Abuja.
  • The company had earlier reported a 72.2% surge in its Profit before tax YoY.
  • The company currently has 1,584,000,000 units of outstanding shares

For more information about the proposed dividend, click HERE

2020 FY Results: Studio Press Plc records a decline of 87% in Profit after tax.

Studio Press Plc released its full-year results for the year ended 31st December 2020.

  • Revenue for the year was N11.5 billion. (+11% YoY)
  • Cost of sales was N10.02 billion. (+19% YoY)
  • Administrative expenses totaled N893.82 million. (+0.5% YoY)
  • Operating profit was N620.3 million (-44% YoY)
  • Profit after tax was N37.6 million. (-87% YoY)
  • Earnings per share of 6 kobo Vs 48 kobo YoY.
  • No dividend announcement was made.

See link to results.

Transcorp Hotels Plc announces Annual General Meeting.

Transcorp Hotels Plc has announced that it will be hosting its 7th Annual General Meeting (AGM)  on the 26th of April, 2021.

According to a notice signed by the Acting Secretary of the company, Mr. Chike Anikwe, the meeting will hold at Transcorp Hilton Abuja at 2:00 pm. The following will be discussed;

  • The audited financial statements of the company for the year ended 31st December 2020.
  • Election of statutory audit committee members.
  • To consider and pass the payment of N62 million as remuneration to Non-Executive Directors for the year ended December 2020.

What you should know:

  • Transcorp Hotels Plc had earlier posted a loss after tax of N6.3 billion.
  • In line with CAC guidelines, attendance of the AGM will be by proxy only. Sequel to this, shareholders are required to select from a pool of nominated proxies as contained in the notice.
  • The AGM will be streamed live.

For more information about the AGM, click HERE.

2020 FY Results: Presco Plc records 37.1% increase in profit after tax.

Presco Plc released its full-year audited results for the year ended 31st December 2020.

  • Revenue for the year was N23.89 billion. (+21.1% YoY)
  • Cost of sales was N7.8 billion. (+11.45% YoY)
  • Administrative expenses totaled N6.82 billion. (+6% YoY)
  • Profit for the year was N5.26 billion.(+37.1% YoY)
  • Earnings per share of N5.26 Vs N3.84 YoY.
  • Return on equity was 17%
  • A dividend of N2 was proposed.

See link to results.

Sterling Bank Plc posts profit after tax of N11.2 billion in FY 2020

Sterling Bank Plc released its full-year audited results for the year ended 31st December 2020.

  • Net interest income for the year was N62.15 billion. (-3.9% YoY)
  • Net fees and commission income was N13.09 billion. (-10.4% YoY)
  • Operating income was N89.6 billion. (+2.3% YoY)
  • Total expenses of N69.3 billion. (-2.5% YoY)
  • Profit after tax was N11.2 billion. (+6.04% YoY)
  • Earnings per share of 39 kobo vs 37 kobo YoY.
  • A dividend of 5 kobo was declared.

See link to results.

2020 FY: Sterling Bank Plc proposes dividend of N1.44 billion for shareholders.

The Board of Directors of Sterling Bank Plc has proposed a dividend of 5 kobo for every share of 50 kobo held by shareholders, amounting to a total of N1.44 billion for the year ended 2020.

This is according to a disclosure signed by the Bank’s secretary, Temitayo Adegoke, and sent to the Nigerian Stock Exchange.

According to the notice, dividends will be paid electronically to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 16th of April, 2021.  Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (Pace Registrar Limited) to pay their dividend directly into their bank accounts.

What you should know:

  • The Bank is expected to discuss this proposed dividend in its 59th Annual General Meeting scheduled to hold on 6th of May, 2021 at MUSON Centre, Marina- Lagos.
  • The Bank had earlier reported a profit after tax of N11.2 billion in FY 2020, indicating an increase of 6.04%.
  • The Bank closed trading on 1st of April, 2021 with a share price of N1.85

For more information about the proposed dividend, click HERE.

Morison Industries Plc reports a loss of N107.32 million in FY 2020.

Morison Industries Plc released its full-year results for the year ended 31st December 2020.

  • Revenue for the year was N121.97 million. (+41.6% YoY)
  • Cost of sales was N109.3 million. (+46.2% YoY)
  • Operating expenses totaled N132.46 million. (+12.7% YoY)
  • A loss after tax of N107.32 million was incurred.
  • Loss per share for the period was 11 kobo.
  • No dividend announcement was made.

See link to results.

2020 FY Results: Arbico Plc reports a 21.6% decline in profit.

Arbico Plc released its full-year results for the year ended 31st December 2020.

  • Revenue for the year was N5.56 billion. (-8.53% YoY)
  • Cost of sales was N4.4 billion. (+8.4% YoY)
  • Administrative expenses totaled N947.03 million. (-12.7% YoY)
  • Operating profit was N642.23 million. (+1,015% YoY)
  • Profit for the year was N413.81 million. (-21.6% YoY)
  • Earnings per share of N5.07 Vs N3.56.
  • No dividend announcement was made.

See link to results.