Ikeja Hotels Plc has proposed a final dividend of N0.02 for every 50 kobo ordinary share.
The proposed dividend is subject to appropriate withholding tax, as well as the approval of shareholders at the company’s next Annual General Meeting.
The dividend will then be paid to shareholders whose names appear in the Register of Members as at of close of business on Wednesday, July 1st, 2020.
This was disclosed in a notification that was sent by the company to the Nigerian Stock Exchange. The notice stated that the register of shareholders would be closed from Thursday, 2 July 2020 to Wednesday, 8 July 2020.
Date of payment: On Friday, 7th of August 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at the close of business on Wednesday, 1 July 2020.
Also note that only shareholders who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts will receive payment.
Date of General Meeting: The company’s Annual General Meeting will be held on July 30, 2020.
(READ MORE: External reserves decline by over 8%, despite lower FX demand)
Ikeja Hotels Plc was incorporated as Properties Development Limited (PDL) on November 18, 1972, with a view to providing world-class hotel and catering services to meet the needs of an ever-increasing number of local and international business and leisure travelers entering the city of Lagos.
The company’s name was later changed to Ikeja Hotel Limited in October 1980. It became a public company in 1983 and assumed its present name on February 5, 1991.
The principal business of Ikeja Hotels Plc is the provision of services in the hospitality industry, including the development of other tourist facilities. It has continually expanded its participation in Nigeria’s hospitality industry through the development and acquisition of hotel and tourist facilities.
Today, Ikeja Hotels boasts of direct or indirect ownership and control of three of Nigeria’s leading five-star hotels, namely, Sheraton Lagos Hotel, Sheraton Abuja Hotel, and Federal Palace Hotels & Casino.