Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Portland Paints explains why they couldn’t declare dividends

Nairametrics by Nairametrics
May 27, 2015
in Company News
Portland Paints explains why they couldn’t declare dividends
Share on FacebookShare on TwitterShare on Linkedin

Portland Paints and Products Nigeria(PPPN) Plc has explained why they did not declare dividends for the financial year ended December 2014.

Addressing the shareholders at the annual general meeting(AGM) in Lagos on Tuesday, the Chairman of PPPNP, Mr Larry Ettah, said despite the higher profit, no dividend would be paid due to strategic reasons.

“For strategic reasons, the board is not recommending the payment of dividend for the year ended 31st December, 2014 but hoped that with the company’s improved performance, this may not be a challenge anymore.”

According to him, the company was being repositioned for better future performance. This repositioning, he added, would require capital raising.

RelatedPosts

Delta Air flight to Lagos, Nigeria makes u-turn after plane developed fault in the air

Seplat and Mobil deal: It’s time to consider moving on

“We are realigning our portfolio and making strategic shifts where necessary. We will continue to focus on innovation and seek opportunities to introduce new offerings into our portfolio of brands as well as build capacity in our people. In pursuit of plans to improve returns and address the high leverage position of the company and our other business expansion plans, the Board has recommended for your approval a capital raise by way of Rights Issue. The board will therefore be glad to have your kind approval,” Ettah said.

Portland Paints closed trading at N3.47 on Tuesday and as lost about 11% in value this year.

Related

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Delta Air flight to Lagos, Nigeria makes u-turn after plane developed fault in the air
    • Seplat and Mobil deal: It’s time to consider moving on
    • 24 Hours Power Supply: Ikeja Electric Sign Tripartite Agreement with Enaro Energy and Ayobo Community

    Follow us on social media:

    Recent News

    Delta Air flight to Lagos, Nigeria makes u-turn after plane developed fault in the air

    Delta Air flight to Lagos, Nigeria makes u-turn after plane developed fault in the air

    August 11, 2022
    Developing nations must be allowed to create a just energy transition – Roger Brown, Seplat CEO

    Seplat and Mobil deal: It’s time to consider moving on

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com