Home Business News Cadbury sets date for 54th AGM, changes date for dividend payments

Cadbury sets date for 54th AGM, changes date for dividend payments

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Cadbury Nigeria Plc has released the notice for its 54th Annual General Meeting (AGM), scheduled to hold on Friday, 21st June, 2019.

This is contained in a public disclosure which was issued, yesterday, to the Nigeria Stock Exchange (NSE) and obtained by Nairametrics.

According to the statement, the company’s Audited Financial Statements and other reports for the year ended 2018 will be presented for deliberation during the meeting.

Other items included for deliberation during the AGM are: the elect/re-elect of Directors, as well as the election of the Audit Committee members.

Meanwhile, a new date has been fixed for dividend payments,

Earlier dividend payments date – Earlier, it was reported that 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 17, 2019.

New date for Dividend Warrants – However, the Company stated that if the payments of dividend is approved at the meeting, the warrants or accounts of the shareholder with the appropriate e-dividend mandate will be posted/credited on Monday 24th June 2019 to shareholders whose name appears on Register of Members as at the close of business on 17th May 2019.

The Register of Shareholders will be closed from Monday, May 20, 2019, to Friday, May 24, 2019, both days inclusive for the purpose of updating the Register of members.

Cadbury continued impressive performance – Earlier, Nairametrics reported that Cadbury Nigeria Plc has carried over its impressive FY 2018 performance into 2019 going by its Q1 2019 results.

While revenue rose marginally, profit before and after tax jumped significantly. Revenue went up by 13% to N9.2 billion in Q1 2019. Profit before tax jumped 2201% to N723 million. Profit after tax also rose by the same margin to N506 million.

Understanding dividend – A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, the corporation is able to re-invest the profit in the business (called retained earnings) and pay a proportion of the profit as a dividend to shareholders.

Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or share repurchase.

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