The Management and Board of May & Baker Nigeria Plc, today, announced dividend payment of 20 kobo per 50 kobo share.
According to a disclosure issued to the Nigerian Stock Exchange, the payment will be subject to shareholders’ approval and appropriate withholding tax.
Important notice to shareholders
Qualification to receive dividend – Only shareholders whose names appear in the Register of Members as at Friday April 19th, will receive dividend payment. In the meantime, the Register of Shareholders will be closed from 22nd – 26th Mav, 2019.
Payment date – The disclosure from May & Baker Plc went further to state that dividends will be paid electronically to shareholders on the 3rd of June, 2019. But this is on the proviso that their names appear on the Register of Members on the date stated above.
Also, shareholders who wish to receive their dividends on June 3rd must have completed their e-dividend registration and authorised their Registrars to pay their dividends directly to their bank accounts.
Note that the company’s Registrar is Veritas Registrars Limited. They are located at Plot 89A Ajose Adeogun Stree, Victoria Island, Lagos.
E-dividend registration
Shareholders advised to complete e-dividend registration – May & Baker Plc has also advised its shareholders, who are yet to complete their e-dividend registration, to do so.
“Shareholders who are yet to complete the e-dividend registration are advised to
download the Registrar’s E-Dividend Mandate Activation Form, which is also
available on the website of the Registrars: www.veritasregistrars.com, complete
and submit to the Registrar or their respective banks.”
Meantime, the company has made good its promise
Recall that May & Baker Plc had, in December last year, stated that it could pay dividends to its shareholders despite the difficulty it had experienced during the 2018 financial year. As we reported, the company said it possessed the financial capacity to so. It also noted that any dividend payment would be subject to certain approvals.
The company’s FY 2018 financial report
May & Baker Plc is a leading pharmaceutical company which reported a revenue of N8.5 billion for full-year 2018. Profit after tax for the period stood at N585.2 million.
The company’s share price is currently trading at N2.30 on the Nigerian Stock Exchange.