These companies will close their share register and pay dividends this week

The following companies will be paying dividends and closing their register this week.

Unity Kapital Assurance

Kapital Assurance will be closing its register from the 11^th-13^th of September 2017. Its AGM will take place on the 14^th of September while dividend payment has been fixed for the 15^th of September. The company will be paying a dividend of 5 kobo per share. Unity Kapital shares closed at 50 kobo on Friday’s trading session.

UBA Plc

UBA will be paying an interim dividend of 20 kobo per share on the 11^th of September 2017. UBA shares closed at N8.81 after Friday’s trading session.

Flour Mills

Flour Mills will be paying a final dividend of 100 kobo per share on the 12^th of September 2017. Flour Mills shares closed at N30 after Friday’s trading session.

Honeywell Flour Mills

Honeywell Flour Mills will be closing its register on the 14^th-18^thof September 2017. Honeywell Flour Mills closed at N2.05 afterFriday’s trading session.

Stanbic Ibtc

Stanbic Ibtc is to hold its Annual General Meeting (AGM) on the 12th of September 2017. Venue is the Eko Hotel and Suites, Victoria Island, Lagos.

What is an Annual General Meeting (AGM)?

An Annual General Meeting (AGM) is a compulsory yearly meeting of a company’s shareholders and its managers. During the AGM, the annual report of a company, which shows its performance and strategy,is presented for approval by shareholders. Other agenda discussed during an AGM include election of directors as well as their compensation, approval of dividends/bonus and selection of auditors. In the event of any pressing issues occurring before the end of a company’s financial year, and Extra Ordinary General Meeting (EGM) is held.

Shareholders of a company are entitled to one vote per AGM. In the event of a shareholder being absent, a proxy form can be filled nominating an individual or one of the directors to place his vote. An AGM is of great importance to shareholders because it gives them the opportunity to ask management questions about the affairs of the company. The AGM takes place after the financial year of a company has closed and can be held in any location within the country.