The shareholders of pharmaceutical, food, and beverage company, May and Baker Nigeria Plc, have approved a dividend of 20 kobo per share amounting to N345.04 million for the financial year ended 31st December 2018.
A notice sent to the NSE on Wednesday said the decision was made during the company’s 68th Annual General Meeting (AGM) that recently held at the Muson Centre, Onikan, Lagos.
Recall that Nairametrics reported that the company announced in April that it intends to pay a dividend of 20 kobo per 50 kobo share for the period ended December 31st 2018. The company later issued a statement informing the NSE and the investing that its shareholders have approved the dividend payment.
The company also elected Chief (Dr.) Samuel Maduka Onyishi, as well as re-elected Mr. V.C. Okelu, Mr. C.S. Chukuka and Mrs. A.S. Aboderin, as its Directors during the AGM.
Note that the board of the company had earlier this year recommended Onyishi for the position after he was appointed as its Non-Executive Director.
Other resolutions the company made in the course of the meeting were;
- Approval of the payment of the Directors in respect of fees payable to each Director, save Executive Directors in the sum of N1.25 million for each Non-Executive Director, save the Chairman which fees shall be fixed at the sum of N1.5 million, with effect from 1st January, 2019.
- Authorising the Directors to fix the remuneration of the auditors.
- Election of Mrs. Gloria Ijeoma Odumodu, Mr. Ishaya Dankaro, Chief (Dr.) Samuel
Maduka Onyishi (representing the Board) and Sir G.O. Adewunmi, Mr. Oladimeji
Bolaji Adeleke and Mrs. C.O. Vincent-Uwalaka (representing the shareholders) as
members of the Audit Committee.
May & Baker Nigeria Plc is currently trading at N2.30 on the floor of the NSE