News Column

CAP Shareholders Approve N1.5 Billion Dividend, As NSE Index Slips

June 19, 2014

Bamidele Ogunwusi

Shareholders of CAP Plc, a subsidiary of UAC of Nigeria Plc, on Thursday unanimously approved a dividend of N1.575 billion for the 2013 financial year.

Announcing the results of the 2013 financial year at the company's annual general meeting in Lagos, the company's Chairman, Larry Ettah, told the shareholders that: "Despite the challenging operating environment in 2013, your company ended the year with an impressive performance. The company recorded a Turnover of N6.2 billion, a growth of 18 per cent over the previous year and a Profit Before Tax of N2.1 billion, which represents an increase of 26 per cent over the previous year.

He added that "In view of the good performance of the company, the Board has recommended a final Dividend of N700 million representing 100 kobo for every 50 kobo ordinary share to shareholders in the Register of Members at the close of business on May 19, 2014 for your consideration and approval. This is in addition to the interim dividend of 125 kobo per share paid on November 19, 2013. This brings the total Dividend for 2013 financial year to N1.575 billion, representing 225 kobo per share."

Meanwhile, trading on the floor of the Nigerian Stock Exchange ((NSE) closed in the red zone on Thursday when equities capitalisation closed lower at N13.560 trillion after it went down by N33.755 billion as against N13.594 trillion it recorded on Wednesday, while the All-Share Index depreciated by 102.23 basic points or 0.02 per cent to close at 41,068.93 points as against 41,171.16 points recorded on Wednesday.

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Source: AllAfrica

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