Here is a recap of stocks that had corporate actions last week and those expected this week.
Corporate actions include payment of dividends, closure of shareholders’ registers, and qualification dates for dividends or bonuses.
It also includes the list of companies that will be holding their Annual General Meetings (AGMs) during the week.
Corporate actions held last week
Capital Hotels Plc
Capital Hotels Plc held its Annual General Meeting on June 27, 2018.
NPF Microfinance Bank Plc
NPF Microfinance Bank held its Annual General Meeting on June 28, 2018. A dividend of N0.17 per share was recommended for the 2017 financial year.
Mutual Benefits Assurance Plc
MRS Oil Plc
Shareholders on its register as at June 28, 2018, qualified for a 1 for 5 dividend bonus.
BOC Gases Nigeria Plc
BOC Gases held its Annual General Meeting on June 28, 2018. A dividend of N0.20 per share was paid on the same date.
Dangote Flour Mills Plc
Dangote Flour Mills held its Annual General Meeting on June 22, 2018. A dividend payment of N0.20 per share took place on June 27, 2018.
Newrest ASL Nigeria Plc
Newrest ASL held its Annual General Meeting on June 26, 2018. Dividend payment took place the next day. A dividend of N0.17 per share was paid.
Okomu Oil Palm Company Plc
Okomu Oil paid a dividend of N3 per share for the 2017 financial year on June 25, 2018.
Corporate Actions for this week
Presco Plc was incorporated in Nigeria on September 24, 2001. The company became a public limited liability company in 2002, and following an Initial Public Offer (IPO) in the same year, was listed on the Nigerian Stock Exchange (NSE).
Qualification date for Presco Plc’s dividend is on July 6, 2018. The company will be paying a dividend of N2 per share for the 2017 financial year.
Learn Africa Plc was established in 1961 as Longman Nigeria – a book publishing firm wholly owned by Longman Group UK Limited, now Pearson Education. On July 23, 1996, the shares of Longman Nigeria Plc were listed on the NSE.
In 2008, the company became a subsidiary of Pearson Plc. In 2011, Pearson and Longman Nigeria mutually agreed to become separate corporate entities in Nigeria.
Learn Africa Plc is into publication and marketing of books at all levels.
Learn Africa’s qualification date is on July 6, 2018. The company will be paying a dividend of N0.14 per share.
NAHCO Aviance was incorporated on December 6, 1979, as an aviation servicing company.
At inception, the Federal Government, through the Federal Airports Authority of Nigeria (FAAN) held 60% equity interest in the company, while four foreign airlines – Air France, British Airways, Sabena, and Lufthansa – shared the remaining 40% in various ratios.
NAHCO Aviance was privatised in 2005 and listed on the NSE in 2006.
NAHCO Aviance will be closing its register from July 3 to July 5, 2018. The company will be paying a dividend of N0.25 per share.
LASACO Assurance was incorporated on December 20, 1979, as Lagos State Assurance Company Limited. It obtained a licence as an insurer on July 7, 1980, and commenced business on August 1, 1980. It became a public limited liability company in 1991 when its shares were listed on the NSE.
LASACO Assurance will be paying a dividend of N0.03 on Thursday, July 5, 2018. This is for the 2017 financial year.
11 Plc (formerly Mobil Oil Plc)
11 Plc will be paying a dividend of N8 per share for the 2017 financial year.
Africa Prudential proposes dividend of N1 billion for shareholders
Africa Prudential Plc has proposed a sum of N1 billion as dividend for shareholders.
The Board of Directors of Africa Prudential Plc has proposed a sum of N1 billion as dividend to shareholders for the period ended 31st of December 2020.
This is according to a disclosure signed by the firm’s secretary, Joseph Jibunoh and sent to the Nigerian Stock Exchange, as seen by Nairametrics.
According to the notification, the proposed dividend will be paid electronically to qualified shareholders on the 26th of March, 2021, subject to appropriate withholding tax and approval from the company’s Annual General Meeting (AGM) scheduled a day earlier.
The breakdown of the proposed dividend shows that a sum of 50 kobo will be paid for each outstanding 2,000,000,000 ordinary shares of the company, held by its shareholders, totalling N1 billion. The proposed dividend is 28.6% lower than the 2019 figures of N1.4 billion.
The comparative decline in the company’s proposed dividend for the year might be attributed to a recent dip in profit and other key metrics recorded by the firm in its latest audited financial statement for 2020. For example, the firm posted a profit of N1.45 billion for the year, indicating a decline of 13.98% YoY. In addition, its earnings per share declined by 14.29% to print at 72 kobo.
What you should know
- Africa Prudential had recently announced the appointment of Mrs Zubaida Rasheed as Director.
- Africa Prudential Plc, formerly known as UBA Registrars Ltd, was incorporated as a private limited liability company on 23rd March 2006. It was listed in the NSE on 17th of January, 2013.
Dangote Sugar proposes N18.2 billion as final dividend for 2020
Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.
The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.
This announcement was contained in the audited financial statement of the leading integrated sugar company.
In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.
The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.
What you should know
- Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
- According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
- At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
- At this price, the dividend yield of Dangote Sugar shares is 8.40%.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- 2020 FY Results: Champion Breweries Plc reports a revenue growth of 1.80% in 2020
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020