16 June 2012

Nigeria: Cement Company of Northern Nigeria Declares 45 Kobo Dividend

Although details of the financial performance were not made available, the company said the dividend would be paid in August 9, 2012.

According to the CCNN, its register would close between July 16 and July 20, implying that investors whose names did not appear on the register before its closure, would not benefit from the dividend.

Meanwhile, National Salt Company of Nigeria (NASCON) Plc, has recorded a turnover of N3.3435 billion for the first quarter (Q1) ended March 31, 2012, up from N2.205 billion in the corresponding period of 2011.

Profit after tax rose by 72 per cent from N396.323 million to N682.945 million.

Market analysts said the Q1 performance was a pointer to positive future for the shareholders of the company, who received a dividend of N1.855 billion for the 2011 financial year.

The N1.855 billion dividend, which translated into 70 kobo per share, was 40 per cent higher than the N1.325 billion paid the previous year.

Shareholders of NASCON had at the company's annual general meeting held recently commended the board for the dividend.

The Chairman of NASCON, Alhaji Aliko Dangote, had explained that the payment of N1.855 billion was in line with the practice of the Board to reward shareholders for their unwavering support.

Looking ahead, he said prospects for 2012 remained excellent, adding "we wish to assure you that our commitment to maintaining our leadership in the salt industry remains the same regardless of the increasing competition within the sub-sector."

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