Smart Products Nigeria Plc has declared a dividend of 15 kobo per 50 kobo share, amounting to N6.75 million for the financial period ended Monday, December 31, 2018.
Come Thursday, September 5, 2019, the dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Friday, June 28, 2019.
Only shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts, will be paid on the date stated above.
While the Register of Shareholders will be closed from Monday, July 1, 2019, to Monday, August 5, 2019, Qualification Date has been scheduled for Friday, June 28, 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.
The company’s financial results
The company’s profit before tax stood at N15 million in 2018 against N9.6 million in 2017. Profit after tax stood at N11.8 million in 2018 against N8.7 million in 2017.
About Smart Products Nigeria Plc
Smart Products Nigeria Plc invests in, manages, and administers properties in Nigeria. The company was formerly known as Associated Press Limited. It was incorporated in 1966 and is based in Lagos, Nigeria.
Smart Products Nigeria Plc is currently trading N0.44 on the floor of the Nigerian Stock Exchange (NSE).