Tag: Caverton Offshore Support Group Plc

Caverton Offshore Support Group Plc has notified the Nigerian Exchange Limited (NGX), its shareholders and all interested parties of its imminent Board of Directors Meeting scheduled to hold on Thursday, 28th of October, 2021.

According to a notice signed by the company’s secretary, Amaka Obiora, the meeting will enable the board members to consider and approve the firm’s unaudited financial statement for the third quarter ended 30th of September, 2021.

Consequently, the firm commenced a closed period for trading in its shares on Friday, 1st of October, 2021. The closed period will persist until 24 hours after the unaudited account of the company for the aforementioned period have been filed with The Exchange (NGX) and made public.

It is pertinent to note that during the closed period, directors, managers, consultants, employees of the company and their associated persons are strictly prohibited from transacting in the company’s shares (that is, buying or selling in the company’s shares).

Attached HERE is a link to the notice.

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)