By Adedapo Adesanya
Leading civil engineering firm, Cappa and D’Alberto Plc, has proposed to pay its shareholders dividend worth 50 Kobo per share, amounting to N123.1 million for the year ended March 31, 2019.
However, this is subject to the approval of the shareholders, who are the highest decision-making organ of the company. The investors would meet to approve this payment at the Annual General Meeting (AGM) scheduled to hold on Wednesday, December 18, 2019 at the Muson Center, Onikan, Lagos.
It was revealed that after the conclusion of the AGM on December 18, shareholders would begin to receive bank alerts of payment of dividend on their mobile devices from Thursday, December 19, 2019.
In a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades it shares, the Italian company noted that it would pay the proposed amount to holders who are qualified for payment as at the qualification date on Friday, November 15, 2019.
The disclosure from the company said that payment is subjected to only those whose names appear in the register of members and that this book would be closed from Monday, November 18 to Friday, November 22, 2019 (both days inclusive), to allow for proper preparation for payment.
According to its 2019 full year results, Cappa and D’Alberto recorded a profit after tax of N304 million, which is N1.7 billion lower than the N2 billion PAT achieved in the 2018 financial year. This occurred as a result of drop in the revenue sales, which plunged from N22 billion to N17 billion year-on-year.
The report also showed the company has an authorized share capital of N200,000,000, made up of 400,000,000 ordinary shares for the year ended March 2019.
Business Post understands that as the close of business on Friday, November 01, 2019, the company’s share price was trading at N33 per share on floor of the NASD Securities Exchange with a total share of 196,875,000 units valued at N6.5 billion.
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