By Dipo Olowookere
The equity prices of Zenith Bank Plc and Honeywell Flour Mill Plc were on Thursday adjusted by the Nigerian Stock Exchange (NSE).
The prices of shares of the two companies were cut following the dividends proposed for payment to shareholders of the organisations.
The qualification dates for the cash reward was Wednesday, September 16, 2020, and today, their prices were marked down and the exact amount recommended for the dividend deducted from their previous day’s closing prices.
The board of Zenith Bank proposed to pay an interim dividend of 30 kobo to shareholders of the financial institution for the half-year ended June 30, 2020.
The company’s register of members will be closed on Thursday, September 17, while the payment will be made on Tuesday, September 22, 2020.
Yesterday, its share value closed at N17 per unit and today, the 30 kobo interim dividend was removed from the closing price and it began trading at N16.70 per share.
On its part, Honeywell Flour proposed the payment of 4 kobo and the qualification date was yesterday. The share price ended during the session at 96 kobo per unit and this morning, it was adjusted to 94 kobo per unit after the 4 kobo dividend was removed.
“The equity prices of Honeywell Flour Mill Plc and Zenith Bank Plc were adjusted today, September 17, 2020, for dividends as recommended by their respective boards of directors,” a notice from the Nigerian Stock Exchange (NSE) to stockbroker disclosed.
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