Barring any unforeseen circumstances, the Cement Company of Northern Nigeria Plc (CCNN) will pay a dividend of N0.40 per share before the end of this month.
The disclosure and other details came in the Company’s notice of its 40th Annual General Meeting as published on the Nigerian Stock Exchange website today. The notice was signed by the Company Secretary, Ahmed Aliyu, Esq.
The meeting will hold on 25th July, 2019 in Maitama, Abuja where CCNN Board will put the proposed dividend payout forward to shareholders for approval.
The register of members of CCNN will be closed from 2nd July, 2019 to 8th July, 2019 to enable management prepare its books for the proposed dividend payment.
Dividend payment date has been fixed for Friday, 26th July, 2019. Shareholders of CCNN who have given the company their e-dividend mandates will have their accounts credited with the value of their dividends on Friday 26th July, 2019. However, those who have not, will be sent their dividend warrants that day.
The proposed dividend payout is indicative of CCNN’s profitability in spite of the competition that is posed by the likes of Dangote Cement Plc and Lafarge Africa Plc. However, it is important to note that the proposed dividend of N0.40 for the full-year period ended December 2018 marks a decline compared to N1.25 dividend per share in 2017.
The Cement Company of Northern Nigeria Plc closed trading on the Nigerian Stock Exchange (NSE) at N14.50 after increasing by 3.57%.
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