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Companies

Caverton releases statement following VP’s crash landing

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Following this afternoon’s crashlanding of a helicopter with the Vice President Professor Yemi Osinbajo on board,  Caverton Offshore Support Group (parent company of Caverton Helicopters) has released an official statement.

In the statement signed by its Managing Director Captain Josiah Choms, the company attributed the accident to adverse weather conditions.

An Augusta AW139 Helicopter, under management by Caverton Helicopters was involved in a mishap on landing in Kabba, Kogi State around 3pm today (2nd February 2019) as a result of unusual weather conditions.  There were no injuries to the passengers or crew onboard and they were all quickly and safely evacuated.
The relevant authorities have been duly informed and an investigation into the incident has commenced.

The company also stated that it would support the authorities as required, and was unwavering in its commitment to safety in its operations.

We wish to reassure the public and our various stakeholders of our unwavering commitment to safety in all of our operations.

Caverton Offshore Support Group closed at N2.20 on Friday’s trading session on the Nigerian Stock Exchange, unchanged from the prior day.

Results for the third quarter ended September 30, 2018, shows revenue for the group increased from ₦14.83 billion in 2017 to ₦23.16 billion in 2018. Profit Before Tax increased from ₦1.89 billion in 2017 to ₦2.63 billion in 2018.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training.He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE).He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.You can contact him via [email protected]

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Companies

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.

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Dangote Sugar proposes N18.2 billion as final dividend for 2020

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%.

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Companies

Nestle declares N28.1 billion as final dividend for 2020

The Board of Nestle Nigeria Plc has announced the payment of N28.1 billion to its shareholders as the final dividend for 2020.

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Nestle declares N28.1 billion as final dividend for 2020

The Board of leading consumer goods company, Nestle Nigeria Plc, has announced the payment of N28.1 billion to its shareholders as the final dividend for the period ended 31st December 2020.

According to the announcement published by the company on the website of the Nigerian Stock Exchange, Nestle is expected to pay a final dividend of N35.50 per share for all the outstanding 792,656,252 ordinary shares of the company.

This brings the total dividend payout to qualifying shareholders to N28.14 billion.

The final dividend, however, will be paid electronically to shareholders on the 23rd of June, 2021, subject to appropriate withholding tax and approval at the Company’s Annual General Meeting.

Other key conditions outlined by the company for qualifying shareholders include:

  • Shareholders whose names appear on the registrar of members as of 21st of May, 2021 will be considered.
  • Qualifying Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Greenwich Registrars) to pay their dividends directly into their bank accounts.
  • In line with this, the register of shareholders will be closed from 24th of May to 28th May 2021, to enable the registrar to process the dividends of Nestle’s shareholders.

In case you missed it

  • Nestle paid an Interim dividend of N25 per share to shareholders towards the end of 2020.
  • It is important to note that the addition of this to the final dividend of N35.5, puts Nestle’s total dividend for 2020 at N60.5 per share. This is 13.57% lower than the total dividend payout for 2019 (N70 per share).

What you should know

  • Nestle declared in its audited financial statement for 2020, that it made a profit before income tax of N60.6 billion in 2020. Indicating a decline of 14.74%, when compared with 2019 figures.
  • The company’s earnings per share (EPS) during the period under review was N49.47, 14.16% lower than 2019 EPS.

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