Tag: Presco Plc

Presco Plc has announced that it will be hosting a Board of Directors meeting on Wednesday, 27^th of October, 2021.

This is according to a notice signed by the company’s secretary, Patrick Uwadia, and sent to the Nigerian Exchange Limited (NGX).

According to the disclosure, the meeting will avail the board members the opportunity to effect board changes and approve the draft unaudited financial statements of the company for the period ended Thursday, 30th of September, 2021. In addition, the Board will also consider and decide on the proposed payment of interim dividends for the aforementioned period.

Consequently, the company declared that it has commenced a closed period from 1st of October, 2021, in line with the statutory provisions for listed companies on the NGX platform. The closed period will last until 24 hours after the release of the unaudited financial results to the public.

The company also disclosed that its unaudited financial results for the aforementioned period will be uploaded on the website of the NGX on or before Saturday, 30th of October, 2021.

Note that during the closed period, insiders of the company comprising of directors, managers, employees and all their connected persons, are strictly prohibited from transacting in the shares of the company.

To access the notice, click HERE.

Presco Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021) ending 31st of December, 2021.
• Turner is expected to hit N44.57 billion.
• Cost of sales is projected at N16.3 billion.
• Administrative expenses totalled N6.7 billion.
• Tax projection of N5.09 billion.
• Profit after tax is projected at N14.51 billion.

See link to results.

The Board of Directors of Presco Plc has proposed a dividend of N2 for every share of 50 kobo held by shareholders, amounting to a total of N2 billion for the year ended 2020.

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

According to the notice, dividends will be paid electronically to qualified shareholders’ on the 26th of July, 2021. The qualified shareholders are those, whose names appear in the Register of Members as at close of trading on 6th of July, 2021.  Other qualifying conditions are;

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

What you should know:

• The company is expected to discuss this proposed dividend in its imminent Annual General Meeting scheduled to hold on 21st of July, 2021 at the Dura Club, Obarentin Estate, Benin Sapele Road, Edo State.
• The Company had earlier recorded a 37.1% surge in profit after tax, after it posted the sum of N5.26 billion as PAT for FY 2020.
• The Company’s share price currently trades at N72, while its outstanding shares as at the period of reporting this stands at 1 billion units.

For more information about the proposed dividend, click HERE.