Economy
UAC Nigeria Declares 10 Kobo Dividend Amid N9.2bn Net Loss
By Dipo Olowookere
The board of UAC Nigeria Plc over the weekend announced a dividend payment of 10 kobo to shareholders for the year ended December 31, 2019.
In its financial statements released at the weekend, the company said the cash reward would be paid to beneficiaries only after an approval at the Annual General Meeting (AGM).
A look at the company’s performance last year by Business Post showed an improvement in its top line and a decline in bottom line.
Revenue generated in the year increased to N79.2 billion from N70.5 billion and this was mainly because of rise in revenue generated from its major business lines.
Its animal feeds and other edible products generated N51.8 billion as against N44.6 billion in FY’18, its paints business raked N11.0 billion in Fy 2019 versus N10.6 billion in FY 2018, and its packaged food and beverages line generated N17.6 billion compared with N16.2 billion.
In the financial year under review, the cost of sales increased to N62.6 billion from N57.2 billion, while the gross profit rose to N16.6 billion from N13.2 billion, with dividend income of N6.4 million as against nothing received in the prior year.
The sum of N2.4 billion was made as other operating income compared with N1.2 billion in the 2018 fiscal year. It had other operating losses of N297.2 million versus N605.1 million. Selling and distribution expenses increased during the period under consideration increased to N6.5 billion from N4.6 billion, while the administrative expenses jumped to N6.6 billion from N5.3 billion.
In the year, UAC Nigeria recorded an operating profit of N5.7 billion as against N3.9 billion in FY 2018, while the finance income remained flat at N2.8 billion, with the finance cost rising to N991.2 million from N610.7 million, leaving the firm with a net finance income of N1.8 billion in contrast to N2.2 billion in the previous year.
In the 2019 financial year, UAC Nigeria increased its profit before tax to N7.5 billion from N6.1 billion, while it declared a net loss of N9.3 billion as against a net loss of N9.5 billion in 2018.
On its balance sheet, UAC Nigeria had a total assets of N107.6 billion in the 2019 financial year in contrast to N131.0 billion in the prior year and total liabilities of N47.1 billion in FY 2019 versus N56.9 billion in FY 2018.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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