Chemical and Allied Products Plc (CAP), has declared a dividend of 290 kobo per share for the financial period ended Monday, December 31, 2018.
Come Friday, June 21, 2019, the dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Friday, May 24, 2019.
Only shareholders who have completed the e-dividend registration process and mandated the Registrar to pay their dividends directly into their bank accounts, will get paid.
While the Register of Shareholders will be closed from Monday, May 27, 2019, to Friday, May 31, 2019, Qualification Date has been scheduled for Friday, May 24, 2019.
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 CAP Plc
Chemical and Allied Products Plc operates in the coatings business in Nigeria.
The subsidiary of UAC of Nigeria Plc, manufactures and sells a range of finishes, including vinyl silk, vinyl matt, vinyl soft sheen, eggshell, high gloss, weathershield masonry, and special effect paints primarily under the Dulux brand; and emulsion, gloss, and textured variants under the Caplux brand. The company distributes its products through Dulux colour centres.
Chemical and Allied Products plc is currently trading N34 on the floor of the Nigerian Stock Exchange (NSE).