Nascon Allied Industries Plc has announced to pay a final dividend of N1 per ordinary share of 50 kobo share for the financial period ended Monday, December 31, 2018.
Subject to appropriate witholding tax, the diviend will be paid to shareholders whose names appear in the Register of Members as at close of business on Thursday, May 30, 2019.
Come Monday, June 17, 2019, the dividends will be paid electronically to 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 company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.
Distribution to shareholders may be in cash (usually a deposit into a bank account) or the issuance of further shares, otherwise known as shares repurchase. But this is usually if the company has a dividend reinvestment plan.
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.
About NASCON Allied Industries Plc
Established in 1973, NASCON Allied Industries Plc (previously known as NASCON Plc), a registered company in Nigeria, was established as a salt refining establishment under the name National Salt Company (NASCON).
The company has since evolved with additional business lines to include Vegetable Oil, Tomato Paste and Seasoning with production facilities in Lagos State (Apapa and Oregun), Ogun State (Ota), Rivers State (Port Harcourt).
The leading player in Salt in Nigeria, NASCON has its footprint throughout Nigeria with expanding market share our categories.
NASCON Allied Industries Plc traded N20 on NSE’s last trading session