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Dividends

GSK Consumer Nigeria declares dividends amidst ‘missing’ results  

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Two weeks ago, GSK Consumer Nigeria Plc declared a final dividend of N0.50 per share for the 2018 financial year. This comprised of 36 kobo from retained pioneer profits and 14 kobo from after-tax profit for the year ended 31 December 2018) 

This was preceded by a board meeting which was held on Thursday, the 7th of March, 2019.  

However,  perhaps by error, the company is yet to upload the results in question nearly two weeks after they were released.

An email sent to the company’s investor relations was delivered but has not been replied. GSK Consumer Nigeria has also failed to upload the results to its website.  

 

GTL registrars,  registrars to the firm, have also not uploaded the results to their website.  

 The absence of results, while not intended, could create room for manipulation, since only those with insider information are aware of the results.  

On the 8th of March, 2019, when a dividend notice was placed, the stock closed at N11.50. The stock then closed at a 5year low of N10.50, on the 19th of March, 2019.  

SSKOHN

GSK Consumer closed at N10.80 in today’s trading session on the Nigerian Stock Exchange (NSE)

About the company  

GlaxoSmithKline Consumer Nigeria Plc was incorporated on June 23, 1971. The principal activities of the company are manufacturing, marketing and distribution of consumer healthcare and pharmaceutical products. 

Results for the nine months ended September 30, 2018, show that revenue increased from N11.4 billion in 2017 to N13.9 billion in 2018. Profit before tax stood at N507 million, as against a loss before tax of N651 million in 2018. Profit after tax stood at N351 million in 2018, compared to a loss after tax of N651 million in 2017. 

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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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Dividends

Linkage Assurance Plc proposes N500 million as final dividend for 2020, bonus issue on existing shares

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 new shares for every 5 existing shares held in the company.

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The Board of Linkage Assurance Plc has proposed a final dividend of N500 million and a bonus issue to existing shareholders of the company for the period ended 31st December 2020.

The company’s Board made this announcement in a notification published on the website of the Nigerian Exchange Group Plc (NGX), stating that a dividend of 5 kobo per share will be paid on all the issued 9,999,999,994 ordinary shares of the company.

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 (two) new shares for every 5 (five) existing shares held in the company, amounting to N2 billion.

READ: Linkage Assurance set to raise capital to N15 billion  

Qualifying conditions

The following conditions must be met by shareholders, to benefit from the recent bonus issue and dividend:

  • Only shareholders, whose names appear in the Register of Members at the close of business on the 30th of April, 2021 will be considered.
  • Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Centurion Registrars) to pay their dividends directly into their bank accounts.
  • For the purpose of the dividend payment, the Register of Shareholders will be closed from 3rd to 10th of May, 2021.

Sequel to the aforementioned points, the dividend will be electronically paid to qualified shareholders on the 26th of May, 2021.

READ: UBA proposes N11.97 billion as final dividend for shareholders in 2020

What you should know

  • Linkage Assurance Plc had earlier declared a profit after tax of N2.4 billion in FY 2020, and consequently proposed a final dividend of 5 kobo per share.
  • It is pertinent to note that the firm did not declare any cash dividend last year. However, it announced a bonus issue of 1 (one) share for every 4 (four) shares held by existing shareholders, amounting to N1 billion in the same period.
  • Therefore, the recent bonus issue is 50% higher than what was declared in the preceding year.
  • Linkage Assurance shares is currently trading at 80 kobo at the time of writing this report.

To read related contents and for more insights, visit: https://stocks.nairametrics.com/

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Dividends

SEC accuse CMOs of frustrating e-dividend mandate process

The DG of SEC revealed that 4.01 million accounts still have incomplete KYC information as of April 8 despite the government’s efforts.

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Unclaimed dividends: SEC wades in, reduces processing time to 1 week for beneficiaries
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The Securities and Exchange Commission (SEC) has faulted the activities of some Capital Market Operators (CMOs) which frustrates the e-dividend mandate process, leading to a rise in unclaimed dividends in the capital market.

This is as the unclaimed dividends in the capital market were estimated to have risen to over N200 billion.

According to a report from the News Agency of Nigeria (NAN), this disclosure was made by the Director-General of SEC, Lamido Yuguda, while speaking at the 2021 first post-Capital Market Committee (CMC) virtual news conference.

READ: Why SEC should support democratization of sale of foreign securities

What the Director-General of SEC is saying

Yuguda, in his statement, said that the commission was aware that some CMOs were frustrating the e-dividend mandate process.

He said, “We implore all stakeholders to comply with all directives of the Commission in this regard, as defaulters would be sanctioned appropriately. We have observed that the growth in the number of mandated accounts has been on the decline for some time.

The capital market community has directed its e-Dividend Committee to engage with the Committee of Heads of Banking Operations to encourage better cooperation from banks as we tackle the challenges of unclaimed dividends.’’

READ: Shareholders move against FG’s establishment of unclaimed dividend trust fund

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The SEC boss reminded all CMOs that the commission’s directive on the update of investors’ Know Your Customer information was still in effect noting that the level of compliance had been low in spite of several engagements by the commission.

SSKOHN

Yuguda revealed that 4.01 million accounts still have incomplete KYC information as of April 8 despite the government’s efforts.

He said, “Despite several engagements, we realised that as of April 8, there were still 4,012,311 accounts with incomplete KYC information. This exercise is critical to deepening the participation of retail investors and we direct all CMOs to accord it the highest level of priority.’’

READ: SEC adjusts operations, introduces e-filing, other measures

In case you missed it

  • SEC had earlier urged all Capital Market Operators (CMOs) to update their investors’ Know Your Customer information due to the low level of compliance.
  • The CMOs were also warned by SEC to stop providing any form of support to unregistered entities operating unlawfully in the country within the capital market as that would not be condoned.

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