NIGERIA: Dangote Sugar Refinery Declares N1.10 Per 50 Kobo Share After 2018 Losses

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Photo Credit: The Guardian

Dangote Sugar Refinery Plc, a leading brand in Nigeria’s FMCG sector has declared a final dividend of N1.10 kobo per 50 kobo ordinary share for the financial period ended Monday, December 31, 2018.

According to the company, the dividend will be effected from Wednesday, June 19, 2019, and will be paid electronically to shareholders who appears on the list of registered members as at Friday, May 31, 2019.

Although the company recorded a decline in profits when compared to the previous financial period after recording revenue of N150.3 billion for the period under review, compared to N204.4 billion in 2017, figures which connote a 26.4 per cent decrease year on year.

However, Dangote Sugar Ltd stated that the dividends will be paid to shareholders who have completed their e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

It said that the dividend payment is subject to shareholders’ approval and appropriate withholding tax, thereafter it will be paid to shareholders on the 19th of June, 2019.

The statement also pointed out that the qualification date has been slated for Friday, May 31, 2019, however, the registration of shareholders will be closed from Monday, June 3, 2019, to Wednesday, June 5 2019.

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