Nigeria: Dangote Sugar Gives 1 - 5 Bonus Issues
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Leadership (Abuja)
18 March 2008
Posted to the web 18 March 2008
Dangote Sugar Refinery (DSR) has proved its resolve to continue to improve on its value creation for shareholders as the company yesterday announced its intension to give investors bonus issue of 1 new share for every 5 previously held by them, even as the company's post tax profit rose mildly by 28.94 per cent.
In addition to the bonus issue, investors will also receive dividend payment of N0.50 per share, which will bring the total dividend paid for the period to N1.70 billion.
According to the result released by the company to the Nigerian Stock Exchange (NSE) and the investing public, only investors whose names appeared in the register at the close of business between March 24th and 27th, will benefit from the gesture.
The payments will be made on April 11th, 2008.
A breakdown of the results show that turnover declined marginally by 3.72 per cent to close at N80.65 billion from the previous year's N83.77 billion, while post tax profit went up to N21.48 billion from N16.66 billion in 2006.
RT Briscoe, another company that posted its year end results yesterday also declared bonus issue of 1 for 4, which will be paid on April 25th, 2008.
The company's register will be closed to members between March 24th and April 4th, 2008.
Relevant Links
Analysis shows that the company posted N16.24 billion in turnover for the year ended 31st December, 2008, from the previous year's N13.16 billion, while profit after tax witnessed 14.66 per cent increase from N0.53 billion in 2005 to N0.61 billion in the review period.
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