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Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impact on the firms themselves or shareholders. 

Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.  

Corporate Actions that took place last week  

CRe FY 2018 results

Continental Reinsurance Plc released its audited results for the 2018 financial year. 

Gross premium written increased from N29.6 billion in 2017 to N34.1 billion in 2018. Profit before tax increased from N3.9 billion in 2017 to N4.3 billion in 2018. Profit after tax also rose from N3.1 billion in 2017 to N3.3 billion in 2018.    

Sweet results  

Cadbury Nigeria Plc released its full year 2018 results. While revenue rose marginally, profit after tax jumped by 176% to N823 million. The company declared a dividend of N0.25 per share. 

Salty results 

NASCON Allied Industries Plc released its results for the 2018 financial year. There was a decline in all indices: revenue, profit before tax and after tax. This affected dividend paymentas it dropped from N1.50 in 2017 to N1.00 in 2018.  

Oily results

11 Plc (formerly Mobil Oil Nigeria) released its full year 2018 results. Revenue rose by 30%, while profit after tax rose by 24%. The company also raised its dividend slightly to N8.25, up from N8 in 2017.  

Julius Berger Plc

The construction giant released its full-year 2018 results. Topline and the bottom line showed significant improvement. Revenue increased by 37% while profit after tax jumped 142% to N6.1 billion in 2018.

This also filtered to shareholders as the company has declared a dividend of N2 per share.

A losing lottery 

Secure Electronic Technology Plc released its full year 2018 results. Revenue declined and the firm made a N152 million loss after tax. The company is into lottery and gaming products.  

A beerish loss  

Champion Breweries Plc also released its full year 2018 results. The firm made a loss after tax of N263 million which it attributed to the increase in excise duties and a challenging operating environment.  


A new boss at Cadbury  

Cadbury  Nigeria Plc also announced several key management changes. 

Mrs Olayimika Adeboye was appointed as Managing Director effective 1st of April2019. Adeboye is the first female MD in Cadbury Niggeria;s over five decades of existence . Prior to her appointment, she was Finance and Strategy Director, West Africa.  

Amir Shamsi,  the outgoing MD will be moving on to a new role within Mondelēz International, the parent company of Cadbury Nigeria.

Ogaga Ologe, who is the Company’s Financial Controller, has been appointed as the new Finance Director effective 1st April, 2019. 

Meyer has a new boss 

Meyer Plc also announced the appointment of Devashish Nath as its new Managing Director effective 1st of February 2019. Prior to this, Nath was the General Manager of Berger Paints, India.  

2 become 1 

Access Bank and Diamond Bank Plc officially became one institution, following the final regulatory approval from the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), and a court sanction (approval). Trading in Diamond Bank shares have since been suspended.  


The merger process began last year, and will create Nigeria’s biggest bank by assets.

A solar brewery  

Nigerian Breweries Plc (NB) and CrossBoundary Energy Limited have signed a Solar Power Purchase Agreement for the installation and operation of a 650 kW solar plant located at our Ibadan brewery. The solar energy plant will become operational this year.

A court case  

In other news, the company confirmed that it was defending a court action filed by the Nigerian Copyright Commission, at a Federal High Court in Abuja.

The case which originated in October 2017, was instituted by Paul Oche who is laying claims to the copyright in a book he wrote. The book has as its title, the Amstel Malta trademark. Amstel is one of the brands in the company’s portfolio.

Board meetings held  

The board of Livestock Feeds Plc met last Friday to consider the company’s full year audited results.  

Custodian Investment Plc held a board meeting where the company’s results were approved, as well as a proposed dividend.

Corporate Actions taking place next week 

Board meetings  

Pharmadeko Plc 

Pharmadeko Plc will be holding a board meeting on Tuesday March 26, 2019 to consider the company’s audited 2018 results and other items.  

Mutual Benefits Assurance Plc  

Mutual Benefits Assurance Plc will be holding a board meeting on Wednesday, March 26, 2019 to consider and approve the group’s audited full year 2018 results and other matters.  

Eterna Plc 

Eterna Plc will also hold a board meeting on the 26th of March, 2019 to consider its 2018 full year results and other items.

ABC Transport Plc 

ABC Transport Plc will also be holding a board meeting on the same day to consider the company’s draft 2018 results and other items.  

The Initiates Plc 

The Initiates Plc will be holding a board meeting on the 29th of March2019. The main thing on the agenda will be the consideration of the company’s full year 2018 results and other items.  

Annual General Meetings 

Africa Prudential Plc will hold its AGM on the 26th of March, 2019, at the Balmoral Hall, Federal Palace Hotel.  

United Capital will hold its AGM on the 28th of March, 2019 at Civic Center, Ozumba Mbadiwe Street, VI, Lagos 






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