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Companies

CHAMS PLC Announces Annual General Meeting 

Chams has evolved from computer and hardware maintenance to providing enterprise technology solutions.

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CHAMS PLC announced to the public on Tuesday via the Nigerian Stock Exchange that its Thirty-Sixth Annual General Meeting of CHAMS PLC will hold on Thursday, 16thday of July, 2020 at the Function Room, Muson Center, 8/9 Marina Road, Onikan, Lagos at 10.00 a.m. prompt. 

Agenda of the meeting includes the following; 

  1. To receive the Audited Financial Statements for the Year ended 31st December 2019 and the Reports of

The Directors, Auditor and Audit Committee thereon; 

  1. To elect/re-elect Directors 
  2. Election: Mr. Tomiwa Aladekomo is being proposed for election as Non-Executive Director. 
  3. Re-election: In accordance with the provisions of the Articles of Association of the Company, the Directors to retire by rotation are Pastor Ituah Ighodalo and Prof. Oyewusi Ibidapo-Obe who is over 70 years old, special notice to that effect having been received by the Company in accordance with Section 256 of the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004. The Directors being eligible offer themselves for re-election. 

iii. Retirement: Mr. Olufemi Williams is retiring as a Group Managing Director and Mrs. Olufunke Alomo Oluwa is retiring as an Executive Director. 

  1. To authorize the Directors to fix the remuneration of the Auditors.
  2. To elect Members of the Audit Committee.

SPECIAL BUSINESS 

To consider and if thought fit, to pass the following as ordinary resolution: 

  1. To fix the remuneration of the Directors.

CHAMS Plc. is Nigeria’s leading provider of integrated identity management and identity and payments transactional systems and solutions provider.  

Over the last 3 decades, Chams has evolved from computer and hardware maintenance to providing enterprise technology solutions in the identity management and transaction payments space to public and private sector institutions. 

Deal book 300 x 250

 

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Companies

Africa Prudential proposes dividend of N1 billion for shareholders

Africa Prudential Plc has proposed a sum of N1 billion as dividend for shareholders.

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African Prudential could be worth more than N4.55

The Board of Directors of Africa Prudential Plc has proposed a sum of N1 billion as dividend to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the firm’s secretary, Joseph Jibunoh and sent to the Nigerian Stock Exchange, as seen by Nairametrics.

According to the notification, the proposed dividend will be paid electronically to qualified shareholders on the 26th of March, 2021, subject to appropriate withholding tax and approval from the company’s Annual General Meeting (AGM) scheduled a day earlier.

The breakdown of the proposed dividend shows that a sum of 50 kobo will be paid for each outstanding 2,000,000,000 ordinary shares of the company, held by its shareholders, totalling N1 billion. The proposed dividend is 28.6% lower than the 2019 figures of N1.4 billion.

The comparative decline in the company’s proposed dividend for the year might be attributed to a recent dip in profit and other key metrics recorded by the firm in its latest audited financial statement for 2020. For example, the firm posted a profit of N1.45 billion for the year, indicating a decline of 13.98% YoY. In addition, its earnings per share declined by 14.29% to print at 72 kobo.

What you should know

  • Africa Prudential had recently announced the appointment of Mrs Zubaida Rasheed as Director.
  • Africa Prudential Plc, formerly known as UBA Registrars Ltd, was incorporated as a private limited liability company on 23rd March 2006. It was listed in the NSE on 17th of January, 2013.

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Companies

Dangote Sugar proposes N18.2 billion as final dividend for 2020

Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.

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Dangote Sugar proposes N18.2 billion as final dividend for 2020

The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.

This announcement was contained in the audited financial statement of the leading integrated sugar company.

In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.

The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.

What you should know

  • Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
  • According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
  • At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
  • At this price, the dividend yield of Dangote Sugar shares is 8.40%.

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