Ardova, Dangote Sugar Hint Payment of Dividend for FY20

By Dipo Olowookere

The boards of Ardova Plc and Dangote Sugar Plc have hinted that shareholders of their respective companies will receive dividends for 2020 full-year.

For Ardova, its board held a meeting on Thursday, February 25 and it was agreed that dividend should be paid but the exact amount was not disclosed in a notice filed to the Nigerian Stock Exchange (NSE) the next day.

“Pursuant to the post-listing requirements of the Nigerian Stock Exchange for quoted companies, Ardova Plc is pleased to inform the exchange and the investing public that the meeting of the board of directors of the company held as scheduled on Thursday, February 25, 2021.

“The board considered and approved the audited financial statements of the company for the year ended December 31, 2020.

“The board also recommended the declaration of dividends subject to the approval of shareholders at the company’s Annual General Meeting (AGM) to be held in due course.

“Consequently, the closed period remains in force until 24 hours after the filing of the financial statements.

“No insider of the company, including its directors, employees, advisers and consultants and their connected persons may deal directly or indirectly in the shares of the company during the closed period,” the energy firm said.

For Dangote Sugar, its board sat on Wednesday to discuss the results of the company and in the process, recommended the payment of dividend.

While updating the market of its decision, the board said, “Dangote Sugar is pleased to inform the NSE and the investing public that the meeting of the board of directors of the company held as scheduled (on) Wednesday, February 24, 2021.

“The directors considered and approved the audited financial statements of the company for the year ended December 31, 2020.

“It also recommended the declaration of dividends subject to the approval of shareholders at the company’s Annual General Meeting to be held in due course.

“Consequently, the closed period remains in force until 24 hours after the filing of the financial statements.

“No insider of the company, including its directors, employees, advisers and consultants and their connected persons may deal directly or indirectly in the shares of the company during the closed period.”