Union Diagnostic Withdraws Dividend Declaration One Week After Proposing to Pay

  • In a remarkable decision, Union Diagnostic has done an about-face on dividend payment
  • The company yesterday announced Friday that it was withdrawing it’s decision to propose dividend payment to its shareholders just a week after saying it planned to pay
  • This is unprecedented in our view as Nairametrics has never seen this happen since it started tracking the market in 2012
  • The company in its press release “told Dealing Members that the Executive Management of the company will address Stockbrokers on the floor of The Nigerian Stock Exchange today, 13 August 2015 to discuss the withdrawal of the declaration of an interim dividend earlier announced by the company. “
  • The company planned to pay a dividend per share of 2.5 kobo per share
  • The share price remained flat at 50 kobo per share
  • Press Release

2 COMMENTS

  1. This is not good for the market, the exchange should find a way of dealing with them and that should be communicated to the market

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