News Column

GSK Gets Nod for N1.243 BIllion Dividend

June 11, 2014

Bamidele Ogunwusi

Shareholders of pharmaceutical and healthcare giant- GSK Consumer Nigeria Plc, on Wednesday, in Lagos, approved the offer by its directors to pay a dividend of N1.243 billion or 130 kobo per share for the 2013 financial year.

This is just as the management announced plans to grow earnings and profit, by further investing in its plants across Nigeria to make products more available.

Addressing the shareholders, the company's chairman, Chief Olusegun Osunkeye, described the performance as "impressive," as turnover rose 15 per cent to N29.183 billion."

Meanwhile, the basic indicators of the Nigerian Stock Exchange (NSE) turned green again on Wednesday, as equities capitalisation appreciated by N40.005 billion; while the All-Share Index rose 121.13 basis points or 0.28 per cent to close at 41,642.55 points.

Mobil Nigeria led the gainers with 505 kobo; followed by Dangote Cement's 340 kobo; Conoil Oil added 285 kobo to Tuesday's 250 kobo; UACN Property Development Company grabbed 75 kobo; while Beta Glass nicked 59 kobo; among others.

Nestle however led 23 others on the decliners' table when it shed N10.01; followed by building materials' Lafarge Cement WAPCO which dropped 229 kobo; Unilever Nigeria depreciated by 105 kobo; breweries' Guinness Nigeria went down by 101 kobo; while it peer-Nigerian Breweries lost 100 kobo; among others.

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Source: AllAfrica

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