Nigerian Aviation Handling Company Plc (NAHCO), has declared a final dividend of 25 kobo per ordinary share, amounting to N406 million for the financial year ended Monday, December 31, 2018.
According to a press statement sent to the Nigerian Stock Exchange, the dividends will, on Friday July 26, 2019, be paid electronically to shareholders whose names appear on the Register of Members as at Monday, July 8, 2019.
Note that only shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts, will receive payment.
The Register of Shareholders will be closed from to Tuesday, July 9, 2018
to Thursday, July 11, 2018.
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 the NAHCO
NAHCO Aviance commenced operations on April 4, 1979, with operations at the Muritala Mohammed International Airport (MMIA), but currently operates across 35 airports in the country.
The Federal Government initially held a 60% stake in the company but sold its stake through an Initial Public Offer (IPO). The company’s shares were listed on the Nigerian Stock Exchange in November 2006. The company is a member of Aviance, an international alliance of airport service providers.