Home Markets NASCON proposes N1.50/per share dividend for shareholders

NASCON proposes N1.50/per share dividend for shareholders


Salt refining company, NASCON Allied Industries Plc, has proposed a dividend payout of N1.50 to its shareholders on May 8, this year.

The company, in a notice to the management of Nigerian Stock Exchange (NSE) on Monday signed by its Secretary, A. A. Samuel hinted that no bonus had been proposed yet to shareholders for the year under review.

This is even as it stated further that official register for the shareholders would be closed from Friday, 20th and Monday 23rd of April, 2018.

The company, however, warned shareholders to complete their electronic-dividend platform, adding that no shareholder would be credited except those that fulfilled regulatory requirement for the annual payout.

Samuel stated: “Only those (shareholders) who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly to their registered bank account.”

He disclosed that the company’s Annual General Meeting (AGM) would hold on May 3, to present and approve the company’s balance sheet for another business year by shareholders, management and financial market regulators.

The notice showed that the company‘s Profit After Tax (PAT) for the period ended December 31, 2017 grew 121.25 percent to N5.34 billion from N2.41 billion posted a year ago.

Similarly, the salt refiner’s Profit Before Tax (PBT) rose 124.94 percent to N7.91 billion, up from the N3.52 billion declared in the preceding year.

According to the company’s filing with the Nigerian Stock Exchange (NSE), its incomes increased from N18.29 billion in 2016 to N27.06 billion recorded in the review period; showing an increase of 47.96 percent.