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

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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.

LivingTrust Mortgage Bank grows profit after tax by over 260% to N100.6 million in Q1 2021.

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LivingTrust Mortgage Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Gross earnings for the period was N251.8 million (+120.1% YoY)
  • Net fee and commission income of N19.17 million (+204.4% YoY)
  • Total operating income was N223.54 million (+115.5% YoY)
  • Operating expenses totalled N122.3 million. (+65.7% YoY)
  • Profit after tax was N100.6 million. (+261.2% YoY)
  • Earnings per share of 2kobo. (+265.5% YoY)

See link to results.

Stanbic IBTC profit plunges by over 45% to N11.3 billion in Q1 2021.

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Stanbic IBTC Holdings Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N15.9 billion. (-14.3% YoY)
  • Net fee and commission income of N20.8 billion. (+16.2% YoY)
  • Operating expenses of N26.96 billion. (+8.8% YoY)
  • Profit for the period was N11.3 billion. (-45.4% YoY)
  • Earnings per share printed 96 kobo (-49.7% YoY)

See link to results.

FCMB approves FY 2020 dividend pay-out of N2.97 billion to shareholders.  

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The Board of First City Monument Bank Plc (FCMB) has approved a disbursement of the total sum of N2.97 billion as dividend to its shareholders for the period ended 31st December, 2020.

The approval is part of the resolutions reached at the recently concluded 8th Annual General Meeting held by the company on the 21st of April, 2021.

Sequel to the unanimous decision reached at the meeting, a dividend payment of 15 kobo per share will be paid on all the issued 19,802,710,754 ordinary shares of the company. In this light, only qualified shareholders’ whose names appear in the Register of Members at the close of business on 8th of April, 2021 will be credited.

Other decisions reached at the AGM include;

  • Three Board members were re-elected as Directors, namely: Alhaji Mustapha Damcida, Mrs Olapeju Sofowora and Mrs Tokunboh Ishmael.
  • Managers and Auditors remuneration for the 2021 financial year were fixed.
  • Five persons were re-elected as members of the Audit Committee for the 2021 financial year.

What you should know:

  • FCMB had earlier reported a profit after tax of N19.6 billion in FY 2020.
  • As at the period of reporting this, the firm’s share price currently trades at N2.87.

Africa Prudential Plc posts profit after tax of N381.35 million in Q1 2021.

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Africa Prudential Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Gross earnings for the period was N825.6 million (+11.1% YoY)
  • Personnel expenses totalled N128.65 million (-18.6% YoY)
  • Customers’ deposits increased to N22.5 billion.
  • Profit after tax was N381.35 million. (+11.6% YoY)
  • Earnings per share of 19 kobo Vs 17 kobo YoY.

See link to results.

Sovereign Trust Insurance Plc notifies stakeholders of 26th Annual General Meeting.

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The Board of Sovereign Trust Insurance Plc has notified relevant stakeholders of its imminent Annual General Meeting (AGM) scheduled to hold on the 27th of May, 2021.

According to a notification signed by the company’s secretary, Yetunde Martins, the 26th AGM is expected to hold at The Bay Lounge Hall, Lekki Phase 1, Lagos by 11:00 am. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • Board appointments will also be considered and ratified.
  • To deliberate on and approve the proposed Directors’ fees for FY 2021 pegged at N3.8 million.
  • Managers and Auditors remuneration in FY 2021 will be discussed and fixed.
  • To elect shareholders’ representatives of the statutory audit committee.

What you should know:

  • Sovereign Trust Insurance Plc had earlier reported a profit after tax of N687.7 million in FY 2020.
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of six (6) representatives authorized to represent shareholders, have been made available.
  • The Annual General Meeting will be streamed live from the company’s website: www.stiplc.com

For more information about the AGM, click HERE.

Dangote Cement Plc to hold AGM on May 26th

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The Board of Dangote Cement Plc has announced that it will host its Annual General Meeting on the 26th of May, 2021.

This is according to a notification signed by the company’s secretary, Mahmud Kazaure and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and officially declared.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.

What you should know:

  • Dangote Cement Plc had earlier reported a profit after tax of N276.07 billion in FY 2020.
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of eight (8) representatives authorized to represent shareholders, have been made available.
  • If approved, dividends are expected to be paid to qualified shareholders on 27th of May, 2021.
  • The Annual General Meeting will be streamed live from the company’s website (http://www.dangotecement.com) or (https://www.youtube.com/dangotegroup).

For more information about the AGM, click HERE.

Linkage Assurance Plc proposes N500million as final dividend for 2020, and a bonus issue on its existing shares.

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The Board of Linkage Assurance Plc has proposed a final dividend of N500 million and a bonus issue to existing shareholders of the company for the period ended 31st December 2020.

The company’s Board made this announcement in a notification published on the website of the Nigerian Exchange Group Plc (NGX), stating that a dividend of 5 kobo per share will be paid on all the issued 9,999,999,994 ordinary shares of the company.

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 (two) new shares for every 5 (five) existing shares held in the company, amounting to N2 billion.

Qualifying conditions

The following conditions must be met by shareholders, to benefit from the recent bonus issue and dividend;

  • Only shareholders, whose names appear in the Register of Members at the close of business on the 30th of April, 2021 will be considered.
  • Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Centurion Registrars) to pay their dividends directly into their bank accounts.
  • For the purpose of the dividend payment, the Register of Shareholders will be closed from 3rd to 10th of May, 2021

Sequel to the aforementioned points, the dividend will be electronically paid to qualified shareholders on the 26th of May, 2021.

What you should know:

  • Linkage Assurance Plc had earlier declared a profit after tax of N2.4 billion in FY 2020, and consequently proposed a final dividend of 5 kobo per share.
  • It is pertinent to note that the firm did not declare any cash dividend last year. However, it announced a bonus issue of 1 (one) share for every 4 (four) shares held by existing shareholders, amounting to N1 billion in the same period.
  • Therefore, the recent bonus issue is 50% higher than what was declared in the preceding year.
  • Linkage Assurance shares is currently trading at 80 kobo as at the period of reporting this.