The Board of Julius Berger Nigeria Plc, one of Nigeria’s leading provider of construction services, has proposed a total final dividend of N634 million to 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 Stock Exchange, stating that a dividend of 40 kobo per share will be paid on all the issued 1,584,000,000 ordinary shares of the company.
In addition to the payment of the cash dividend of 40 kobo per share, shareholders will also be issued a bonus of 1 (one) new share for every 99 (ninety-nine) existing shares held in the company.
Conditions to qualify for the dividend
- Only shareholders whose names appear in the Register of Members at the close of business on the 28th of May 2021 will be considered.
- Qualifying shareholders must have completed the e-dividend registration and must have mandated the Registrar (GTL 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 31st of May 2021 to 2nd June 2021, to enable the registrar to process shareholders’ dividends.
Dividend and bonus issue declared last year
Last year, Julius Berger Plc paid shareholders a dividend of N2.00 per share on all the issued shares of the company. This is five times the dividend the company is set to pay on each of its issued shares this year.
In 2019 also, the company in addition to the cash dividend, proposed one new ordinary share for every 5 (five) existing ordinary shares held by the company shareholders.
What you should know
Shares in Julius Berger Plc as of the close of the market on the 1st of April 2021, are currently worth N20 per share.
At this price, the dividend yield of the company shares is currently pegged at 2%. The company’s market capitalization is valued at about N31.7 billion.