Dangote Sugar Plc has declared a final dividend of N1.10 per 50 kobo ordinary share, for the financial period ended Monday, December 31st, 2018.
Come Wednesday, June 19, 2019, the dividends will be paid electronically to shareholders
whose names appear on the Register of Members as at Friday, May 31, 2019.
Also, dividends will only be paid to shareholders who have completed their e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
In the meantime, the dividend payment is subject to shareholders’ approval and appropriate withholding tax, after which it will be paid to shareholders on the 19th of June, 2019.
While the qualification date has been slated for Friday, May 31, 2019, the Register of Shareholders will be closed from Monday, June 3, 2019, to Wednesday, June 5 2019.
Dangote Sugar Plc’s profit decline
Dangote Sugar Plc released its financial statements for the year under review, which show that the company recorded a decline in its figures when compared to previous financial period.
The company recorded a revenue of N150.3 billion for the period under review, compared to N204.4 billion in 2017. This represents a 26.4 percent decrease year on year.
The company’s profit before tax decreased from N53.5 billion in 2017 to N34.6 billion in 2018, representing a 35.4 per cent decrease year on year. The company’s profit after tax also dropped from N39.7 billion in 2017 to N21.9 billion in 2018. This represents a 44.8 per cent decrease.
More so, Dangote Sugar recorded earnings per share of N1.85 in 2018 compared to N3.31recorded in 2017. This represents a 44.1 per cent decrement.
About Dangote Sugar
Dangote Sugar is one of the major subsidiaries of Dangote Group. The sugar manufacturer is competing with BUA Refinery Ltd. and Golden Sugar Co. Dangote Sugar Plc is the largest sugar refining company in sub-Saharan Africa.
The company’s stock is currently trading at N13.75 on the Nigerian Stock Exchange (NSE).