Connect with us
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Ho
Advertisement
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Dividends

Lafarge Africa Plc declares N16.11 billion as dividend for 2020

The Board of Lafarge proposed a dividend of N1.0 per share for all outstanding ordinary shares.

Published

on

Lafarge Africa provides grant for startups, Lafarge Africa’s latest earnings report reveals 8.5% decline in gross profit , Lafarge Africa gets new CFO one month after resignation of former finance director, Lafarge Plc reveals why it invited Italian man with Coronavirus to Nigeria, Lafarage Africa group Plc posts a revenue of N213 billion in 2019, profit up N17 billion, Lafarge moves to sell 35% shareholding in Continental Blue Investment Ghana Limited

The Board of Lafarge Africa Plc has announced the payment of N16.11 billion to its shareholders as the final dividend for the period ended 31st December 2020.

According to the announcement published by the cement manufacturer on the website of the Nigerian Stock Exchange, Lafarge is expected to pay a dividend of N1.0 per share for all the outstanding 16,107,795,721 ordinary shares of the company.

This brings the total dividend payout to qualifying shareholders to N16.11 billion.

The final dividend, however, will be paid electronically to shareholders on Tuesday, 25th May 2021, subject to appropriate withholding tax and approval at the company’s Annual General Meeting, on Tuesday, 25th May 2021.

Key conditions outlined for qualifying shareholders include:

  • Only shareholders whose names appear in the Register of Members at the close of business on Friday, 30th April 2021 will be considered.
  • Qualifying shareholders must have completed the e-dividend registration and must have mandated the Registrar (Cardinalstone Registrars) to pay their dividends directly into their bank accounts.
  • For the purpose of the dividend payment, the Register of Shareholders will be closed from 4th May 2021 to 7th May 2021, to enable the registrar to process shareholders’ dividends.

What you should know

  • Lafarge Africa Plc declared in its audited financial statement for 2020, that its profits grew by 98.8% year-on-year to N30.8 billion in 2020.
  • The company’s earnings per share during the year, increased by 98.8% year-on-year, from 96 kobo to 191 kobo in 2020.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Dividends

Linkage Assurance Plc proposes N500 million as final dividend for 2020, bonus issue on existing shares

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 new shares for every 5 existing shares held in the company.

Published

on

linkage assurance

The Board of Linkage Assurance Plc has proposed a final dividend of N500 million and a bonus issue to existing shareholders of the company for the period ended 31st December 2020.

The company’s Board made this announcement in a notification published on the website of the Nigerian Exchange Group Plc (NGX), stating that a dividend of 5 kobo per share will be paid on all the issued 9,999,999,994 ordinary shares of the company.

In addition to the payment of the cash dividend of 5 kobo per share, shareholders will also be issued a bonus of 2 (two) new shares for every 5 (five) existing shares held in the company, amounting to N2 billion.

READ: Linkage Assurance set to raise capital to N15 billion  

Qualifying conditions

The following conditions must be met by shareholders, to benefit from the recent bonus issue and dividend:

  • Only shareholders, whose names appear in the Register of Members at the close of business on the 30th of April, 2021 will be considered.
  • Shareholders must have completed the e-dividend registration and must have mandated the Registrar (Centurion Registrars) to pay their dividends directly into their bank accounts.
  • For the purpose of the dividend payment, the Register of Shareholders will be closed from 3rd to 10th of May, 2021.

Sequel to the aforementioned points, the dividend will be electronically paid to qualified shareholders on the 26th of May, 2021.

READ: UBA proposes N11.97 billion as final dividend for shareholders in 2020

What you should know

  • Linkage Assurance Plc had earlier declared a profit after tax of N2.4 billion in FY 2020, and consequently proposed a final dividend of 5 kobo per share.
  • It is pertinent to note that the firm did not declare any cash dividend last year. However, it announced a bonus issue of 1 (one) share for every 4 (four) shares held by existing shareholders, amounting to N1 billion in the same period.
  • Therefore, the recent bonus issue is 50% higher than what was declared in the preceding year.
  • Linkage Assurance shares is currently trading at 80 kobo at the time of writing this report.

To read related contents and for more insights, visit: https://stocks.nairametrics.com/

SSKOHN
Continue Reading

Dividends

SEC accuse CMOs of frustrating e-dividend mandate process

The DG of SEC revealed that 4.01 million accounts still have incomplete KYC information as of April 8 despite the government’s efforts.

Published

on

Unclaimed dividends: SEC wades in, reduces processing time to 1 week for beneficiaries

The Securities and Exchange Commission (SEC) has faulted the activities of some Capital Market Operators (CMOs) which frustrates the e-dividend mandate process, leading to a rise in unclaimed dividends in the capital market.

This is as the unclaimed dividends in the capital market were estimated to have risen to over N200 billion.

According to a report from the News Agency of Nigeria (NAN), this disclosure was made by the Director-General of SEC, Lamido Yuguda, while speaking at the 2021 first post-Capital Market Committee (CMC) virtual news conference.

READ: Why SEC should support democratization of sale of foreign securities

What the Director-General of SEC is saying

Yuguda, in his statement, said that the commission was aware that some CMOs were frustrating the e-dividend mandate process.

He said, “We implore all stakeholders to comply with all directives of the Commission in this regard, as defaulters would be sanctioned appropriately. We have observed that the growth in the number of mandated accounts has been on the decline for some time.

The capital market community has directed its e-Dividend Committee to engage with the Committee of Heads of Banking Operations to encourage better cooperation from banks as we tackle the challenges of unclaimed dividends.’’

READ: Shareholders move against FG’s establishment of unclaimed dividend trust fund

Hotflex

The SEC boss reminded all CMOs that the commission’s directive on the update of investors’ Know Your Customer information was still in effect noting that the level of compliance had been low in spite of several engagements by the commission.

SSKOHN

Yuguda revealed that 4.01 million accounts still have incomplete KYC information as of April 8 despite the government’s efforts.

He said, “Despite several engagements, we realised that as of April 8, there were still 4,012,311 accounts with incomplete KYC information. This exercise is critical to deepening the participation of retail investors and we direct all CMOs to accord it the highest level of priority.’’

READ: SEC adjusts operations, introduces e-filing, other measures

In case you missed it

  • SEC had earlier urged all Capital Market Operators (CMOs) to update their investors’ Know Your Customer information due to the low level of compliance.
  • The CMOs were also warned by SEC to stop providing any form of support to unregistered entities operating unlawfully in the country within the capital market as that would not be condoned.

Stanbic 728 x 90
Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.