By Adedapo Adesanya
Niger Delta Exploration and Production (NDEP) Plc is proposing the payment of N17.00 dividend to its esteemed shareholders for the 2019 financial year.
This was made known in a notice sent to the NASD Over-the-Counter (OTC) Securities Exchange this week, where the oil and gas investment company trades its securities.
The company noted that the dividend will be paid to shareholders who are in the company’s books as at the qualification date of Thursday, May 29, 2020. NDEP Plc stated further that it will close its register on Monday, June 1, 2020.
It also said that the proposed N17 NDEP dividend will be subject to approval of shareholders during the company’s 25th Annual General Meeting (AGM).
The AGM has been scheduled for Wednesday, June 17, 2020 and will hold at the company’s headquarters located at Number 15, Babatunde Jose Road, Victoria Island in Lagos. The event has been scheduled for 11 am.
Niger Delta Exploration and Production Plc was incorporated on March, 251992,/as the Midas Drilling Fund. It was admitted to trade on NASD OTC Securities Exchange market on August 1, 2013 with security code SDNDEP.
The company is principally engaged in exploration and production of oil and natural gas. It has an issued and fully paid capital of 181 million ordinary shares of N10 each.
Business Post reports that shares of NDEP sells at the moment at the unlisted securities market at N292 each. In the last 52 weeks, its highest price has been N323.92 per share, while its lowest has been N260.00 per share.
Dipo Olowookere