Presco Plc declares dividend payment of N6.60 kobo to shareholders

Presco Plc has announced a dividend payment of N6.60 kobo per 50 kobo ordinary shares for the financial year ended 31 December 2021.

This dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

According to the disclosure filed with the Exchange (NGX), shareholders are to ensure their names are registered in the Register of Members by the qualification date of July 8, 2022.

On Thursday, July 28th, 2022, the dividend which amounts to N6.6 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Friday, July 8th 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is First Registrars Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

Presco Plc has 1,000,000,000 outstanding shares and a market capitalization of N200 billion at the time of filing this report. The company’s shares opened trading on 19th of May, 2022 at N200 per share and closed at N200 per share.

What you should know

• Presco Plc had released its FY 2021 financial results for the period ended 31 December 2021, reporting a profit of N19.32 billion, representing a 267.16% growth year on year. Revenue of N47.43 billion was reported in the full-year period compared to N23.89 billion in the same period of 2020.
• Earnings per share was recorded as N19.32 kobo against N5.26 kobo recorded in the corresponding period of 2020.
• Year-to-date, the company’s shares have appreciated by 127.79% from N87.80 at the beginning of the year to N200.00 as at the time of writing this report.