Aluminium Extrusion Corrects Error in 50 Kobo Dividend Declaration

June 13, 2022
Aluminium Extrusion

By Dipo Olowookere

The board of Aluminium Extrusion Industries Plc has announced that shareholders of the company will no longer receive the 50 kobo dividend it earlier proposed for payment for the 2021 financial year.

In a statement issued over the weekend, the firm explained that the amount of the proposed cash reward was a mistake as it ought to be 5 kobo.

In the notice filed to the Nigerian Exchange (NGX) Limited, Aluminium Extrusion apologised “for any inconvenience this erroneous information might have caused.”

“Aluminium Extrusion Industries Plc hereby announces the following to Nigerian Exchange Limited (NGX), its shareholders and the general public that the company erroneously announced that its board of directors approved the sum of 50 kobo per share as dividend for the financial year ended December 31, 2021, when filing its audited financial statements via the issuers’ portal on NGX on March 30, 2022.

“The company is by this press release confirming that the actual dividend approved by the board of directors of the company was the sum of 5 kobo per share.

“We apologize for any inconvenience this erroneous information might have caused,” the disclosure signed by DCSL Corporate Services Limited, the Company Secretaries, stated.

Business Post reports that last year, shareholders of the organisation received 8.5 kobo as dividends for the 2020 accounting year.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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