Julius Berger Plc has declared to pay a final dividend of N2.00 per 50 kobo share for the financial period ended Monday, December 31, 2018. This is subject to shareholders’ approval.
Withholding tax will be paid to shareholders whose names appear in the Register of Members as at close of business on Friday, May 31, 2019.
The register of shareholders will be closed from Monday, June 3, 2019, to Friday, June 7, 2019. Also, shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts will receive their dividends.
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, the corporation is able to re-invest the profit in the business (called retained earnings) and pay a proportion of the profit as a dividend to shareholders.
Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or share repurchase.
In other words, a dividend is allocated as a fixed amount per share with shareholders receiving a dividend in proportion to their shareholding. For the joint-stock company, paying dividends is not an expense; rather, it is the division of after-tax profits among shareholders.
Good year for Julius Berger?
Going by the company’s financial results for the 2018 financial year, Nairametrics understand that Julius Berger recorded a laudable performance.
The company’s revenue increased from N141 billion in 2017 to N194 billion in 2018, a figure that represented 37.5 per cent increment.
More so, profit before tax jumped from N3.7 billion in 2017 to N10.1 billion in 2018. This amounts to a 172 per cent increase year on year.
Profit after tax also rose from N2.5 billion in 2017 to N6.1 billion in 2018. This represents a 144 per cent increase year on year.
What you should know about Julius Berger
Julius Berger is a Nigerian construction company, headquartered in Abuja, with additional permanent locations in Lagos and Uyo. The company is represented across Nigeria in structural engineering and infrastructure works, and in southern Nigeria through domestic and international oil and gas industry projects.