FrieslandCampina Proposes N4.73 as Final Dividend
By Adedapo Adesanya
Top Nigerian milk producing company, FrieslandCampina WAMCO Nigeria Plc, is proposing the payment of N4.73 as a final dividend to its shareholders for the 2021 financial year.
This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.
The notice filed on Wednesday indicated that the proposed dividend comprises two tranches with a final cash dividend of N4.23 with a bonus share of 50 kobo.
The payment will be subject to the approval of shareholders at the Annual General Meeting (AGM) of the company scheduled for Thursday, May 26, 2022.
According to the company, its AGM will hold at Sheraton Lagos Hotels on 30 Mobolaji Bank Anthony Way, Ikeja, Lagos by 10 a.m.
If the dividend payment is approved at the meeting, shareholders of the company will be credited at a payment date yet to be disclosed.
However, the qualification date for the dividend has been set for Thursday, April 28. This means only those who hold the company’s shares as of this date will be eligible to receive the stipulated dividend payment.
The notice noted that the closure of the company’s register will be from Friday, April 29, 2022, to Thursday, May 5, 2022, (both dates inclusive).
When compared with the final dividend paid last year, the amount to be paid for the 2021 accounting year is lower by 29.8 per cent or N2.01 as shareholders received N6.74 as a final dividend for the 2020 reporting year.
In the 2019 fiscal year, the company’s shareholders got N2.68 as an interim dividend and N6.81 as a final dividend, bringing the total cash reward for the year to N9.49.
At the close of trading at the NASD OTC bourse yesterday, Business Post gathered that the company’s stock was one of the gainers as it recorded a N2.73 gain to trade at N130.47 per unit compared with the previous N127.74 per unit.
Friesland Campina Wamco Plc was incorporated in April 1973 and admitted to trade on the NASD OTC Securities Exchange on July 25, 2013, with the security code SDFCWAMCO.
The company is principally engaged in manufacturing and marketing of evaporated milk, instant milk powder and other dairy products. It produces top Nigerian milk brands like Peak, Three Crowns, Coast, NUNU, and Olympic.
It has an issued and fully paid capital of 976 million ordinary shares of 50 kobo each.