Tag: Dividend

Meyer Plc approves interim dividend worth N796.9 million for 2021 half year.

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The Board of Directors of Meyer Plc has approved the payment of an interim dividend of N1.50 per ordinary share of 50 kobo for the period ended June 30, 2021.

The dividend will be paid on all the outstanding 531,237,723 ordinary shares of the company, thereby raising the total amount to be paid by the firm to N796, 856,584.50

According to a disclosure signed by the company’s secretary, Kalu O. Kalu and filed with the Nigerian Exchange Group Limited (NGX), the dividends will be disbursed electronically on the 25th of August, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021.

To fast track the process, the company announced that it will close the register of its shareholders from 16th of August to 20th of August, 2021. The qualifying conditions for shareholders to participate are succinctly captured below;

  • Shareholders must have completed e-dividend registration.
  • Shareholders must have authorized the company’s registrar (Greenwich Registrars & Data Solutions Limited) to pay the dividends directly into the respective shareholder’s bank account.

What you should know:

  • Meyer Plc is a renowned manufacturer and marketer of high quality paint products in Nigeria. The firm had earlier reported a half year loss of N9.33 million for the period ended June 30, 2021
  • As at the period of reporting this, Meyer Plc share price currently trades at 59 kobo.

 

BUA Cement approves N70b dividend to shareholders.

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The Shareholders of BUA Cement Plc have approved a total dividend of N70billion representing N2.067 per share for the 2020 financial year at the 5th Annual General Meeting of the Company, held on Thursday 8th of July 2021.

This is according to a notice signed by the company’s secretary, Ahmed Aliyu and filed with the Nigerian Exchange Group Limited.

BUA Cement Plc in an earlier circular dated 5th of May 2021 had announced a revision in its dividend payment timeline. According to the notice, the firm postponed its qualification date from 9th of June to 18th of June. The closure of shareholders register was moved to 21st-25th of June as opposed to an initial date of 12th -16th of July. The firm’s AGM was also rescheduled to 8th of July as against an initial date of 22nd of July.

Consequently, a dividend of N2.067 per share was approved to be paid to the shareholders of the company who currently hold 33,864,354,060 fully paid ordinary shares, totalling N69.998 billion.

It is imperative to note that the approved dividend worth approximately N70 billion is 18.11% higher than the amount the company paid to its shareholders in corresponding period of last year (N59.26 billion: FY 2019).

BUA Cement Plc declared in its audited financial statement for 2020 that its profits grew by 19.4% year-on-year to N72.34 billion, compared to last year’s figure of N60.34 billion. The double-digit growth in profit reflected the cement maker’s focus on efficiency, excellent cost optimization strategies, among others.

As at the period of reporting this, BUA Cement Plc share price is down by 4.79% and currently trading at N67.6

 

Beta Glass Plc set to disburse dividend worth N519.97 million to shareholders.

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The Board of Beta Glass Plc has approved the payment of a sum of N519.97 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

The decision is part of the resolutions reached at the recently concluded 47th Annual General Meeting (AGM) of the company, held on the 1st of July, 2021 at Eko Hotels and Suites, Lagos.

Affirming this, a notice signed by the company’s secretary, Bola Adebisi read: ‘’IT WAS RESOLVED that a gross dividend of N1.04k per ordinary share of 50k be and is hereby declared out of the profits for the year ended December 31,2020 to all shareholders registered in the Company’s Books as at the close of business on June 10,2021.’’

Sequel to the approval, Beta Glass Plc will pay out a dividend of N1.04 for each of the outstanding 499,972,000 ordinary shares of the company, held by its shareholders, translating to a gross dividend value of N519, 970,880.

Other decisions reached at the firm’s AGM are;

  • The re-election of Mr. Haralambos David and Ms. Olufunmilola Adefope as Directors of the company were approved.
  • Five persons were elected into the Audit as Shareholders’ and Directors’ representatives.
  • The sum of N1, 125,000 was fixed as annual fees payable to each director for the year.

What you should know:

  • Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020, indicating a decline of about 37.9% when compared with the figure declared in similar period last year.
  • Sequel to the approval of a gross dividend payment worth N519.97 million, the company in its FY 2020 report, stated that the sum of N2.95 billion will be transferred to its general reserve.

NEM Insurance Plc set to pay N902.97m dividend to shareholders.

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The Board of NEM Insurance Plc has approved a total dividend of N902.97 million representing 9 kobo per share for the 2020 financial year at the 51st Annual General Meeting of the company, held at NEM House in Obanikoro, Lagos on 24th of June, 2021.

This is according to a notification signed by the company’s secretary, Olajumoke Philip-Akede and seen by Nairametrics

An abstract of the resolution read: ‘’ That the dividend payment of 9k for every ordinary share of 50k each be and are hereby payable to all shareholders whose names appear on the Company’s Register of Members at the close of business on the 4th of June, 2021.’’

In light of this, the approved dividend will be paid on all the issued 10,032,955,535 ordinary shares of the company.

In addition, the board also agreed to consolidate the company’s shares in the ratio one (1) new ordinary shares for every two (2) ordinary shares previously held by its shareholders. This will consequently raise the nominal value of the ordinary shares from 50 kobo each to N1 per share.

Other key decisions reached at the AGM include;

  • Two Directors were re-elected into the Board, namely: Dr. Fidelis Ayebae and Mrs. Olayinka Aletor.
  • Directors and Auditors remuneration for the 2021 financial year were fixed.
  • Five persons were elected as members of the statutory audit committee for the 2021 financial year.
  • The board also approved the amendment of the company’s Memorandum and Articles of Association to reflect the changes brought about by the share consolidation exercise.
  • The board finally approved that the transfer of N272,551,000 representing the value of 4.7 billion ordinary shares, from the Company’s Share Premium account and Retained Earnings account to the Share Capital account.

What you should know:

  • NEM Insurance Plc had earlier reported a profit after tax of N5.08 billion in FY 2020, indicating a surge of about 112.3% when compared to the sum declared in the corresponding period of 2019.

Total Nigeria Plc set to pay N2.06 billion dividend to shareholders.

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The Board of Total Nigeria Plc has approved a total dividend of N2.06 billion representing N6.08 per share for the 2020 financial year at the 43rd Annual General Meeting of the company, held at The Civic Centre, Lagos on 17th of June, 2021.

This is according to an official disclosure signed by the company’s secretary, Bunmi Popoola-Mordi and sent to the Nigerian Exchange Group Limited (NGX).

According to the notice: ‘’ It was resolved that a dividend of N6.08 (Six Naira, Eight Kobo) per share as recommended by the directors be and is hereby payable on Friday 18th June, 2021 to all holders of ordinary shares whose names appear in the Register of Members at close of business on the 16th of April, 2021 subject to deduction of withholding tax at the rate applicable on the date of payment.’’

Sequel to this, the approved dividend rate of N6.08 per share will be paid on all the issued 339,521,837 ordinary shares of the company.

Other key decisions reached at the AGM include;

  • Three Directors were re-elected into the Board, namely: Mr. Stanislas Mittelman, Mrs. Lesley Baxter-Green and Mr Alexander Adotevi.
  • Directors and Auditors remuneration for the 2021 financial year were fixed.
  • Five persons were elected as members of the statutory audit committee for the 2021 financial year.

What you should know:

  • Total Nigeria Plc had earlier reported a profit after tax of N2.24 billion in FY 2020, indicating a dip of 1.55% when compared to the sum of N2.28 billion recorded in correspondig period of 2019.

 

Jaiz Bank approves payment of N883.9 million as final dividend to shareholders.

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The Board of Jaiz Bank Plc has approved a disbursement of the total sum of N883.9 million as final dividend to its shareholders for the period ended 31st December, 2020.

The approval is part of the resolutions reached at the recently concluded 9th Annual General Meeting held by the company on the 23rd of June, 2021.

Affirming this, a part of the resolution stated: ‘’That a final dividend of N0.03kobo per share be and is hereby sanctioned and the directors be and are hereby authorized to pay the same on Wednesday, June 23 2021 to shareholders whose names appeared in the Company’s Register of Members by close of business on Friday June 11, 2021 subject to the deduction of the appropriate Withholding Tax at the time of payment, as recommended by the Board.’’

It is pertinent to note that the approved dividend rate of 3 kobo per share will be paid on all the issued 29,464,249,300 ordinary shares of the company.

Other decisions reached at the AGM include;

  • Three eminent personalities were elected into the Board as Directors, namely: Dr. Abdulateef Bello, Mrs Aisha Waziri Umar and Dr. Sirajo Salisu.
  • Four retired Board members were re-elected as Directors, having presented themselves for re-election.
  • Managers remuneration for the 2021 financial year were fixed at N263,119,000
  • Five persons were re-elected as members of the Audit Committee for the 2021 financial year.
  • Directors fees were pegged at N16 million per annum for the Board Chairman and N14 million per annum for every other Non-Executive Director.

What you should know:

  • JAIZ Bank Plc had earlier reported a profit after tax of N2.9 billion in FY 2020, indicating an increase of 19% YoY.