By Adedapo Adesanya
The Board of Directors of Nigerian Independent Petroleum Company (NIPCO) Plc has proposed that it would be paying a dividend of N3.00 per ordinary shares to shareholders of the company.
But before this payment can be effected, shareholders would have to approve it at the company’s 15th Annual General Meeting (AGM) scheduled to hold on Wednesday, September 25, 2019 at the Lagos Hall of Transcorp Hilton, in the nation’s capital, Abuja.
In a notice made available on the NASD, the petroleum company said the qualification date for this cash reward was Friday, September 13, 2019 (yesterday), with the register of shareholders to be looked into by the registrar from Monday, September 16, 2019 to Thursday, September 19, 2019, inclusive of both days.
The company also revealed that beneficiaries of the dividend would begin to receive payment from Monday, October 21, 2019.
As at close of the trading week on Friday, 13 September 2019 at the NASD OTC Market, the company’s has traded a volume of 50,000 units equivalent to 6.17 percent and has a market value of N3.6 million representing a total of 6.8 percent.
This week, the market capitalisation decreased by 0.09 percent to N514.64 billion from last week’s N515.11 billion, while the index for the week ended went down from 716.98 points to 716.33 points.
Dipo Olowookere