Nipco Proposes N5 Dividend Payment

By Adedapo Adesanya

Oil and gas company, Nipco Plc, has disclosed plans to pay N5.00 in dividends to new and existing shareholders for the 2022 financial year.

The company disclosed this in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.

The notice indicated that the proposed dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was last Friday, July 18.

This means only those who hold the oil company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.

The payment will be subject to the approval of shareholders at the Annual General Meeting (AGM) of the company scheduled for Wednesday, August 16, 2023.

According to the notice, its AGM will hold at the Abuja Continental Hotels, located at 1 Ladi Kwali Way, Maitama, Abuja, by 12:00 noon.

If the dividend payment is approved at the meeting, shareholders of the company will be credited a day after the meeting on Thursday, August 17, 2023.

The notice noted that the closure of the company’s register was Wednesday, July 19.