UBN Property Recommends 3 Kobo Dividend

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By Adedapo Adesanya

A proprietary investment company, UBN Property Plc, has proposed the payment of 3 kobo as a final dividend to its shareholders for the 2020 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 payment will be subject to the approval of shareholders at the Annual General Meeting (AGM) of the company scheduled for Tuesday, June 29.

According to the property investment company, its AGM will hold at the Auditorium, Stallion Plaza (9th Floor) 36 Marina, Lagos by 11 a.m.

If the dividend payment is approved at the meeting, shareholders of the company will be credited on the payment date, which also coincides with the date of the meeting.

However, the qualification date for the dividend was Friday, June 18. This means only those who held 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 was from Monday, June 21, 2021 to Friday, June 25, 2021 (both dates inclusive).

At the close of trading at the NASD OTC bourse on Friday, Business Post gathered that the company’s stock closed with a one kobo gain to trade at N1.18 per unit compared with the previous N1.17 per unit.

UBN Property Company Plc is a subsidiary of Union Bank of Nigeria Plc. It was incorporated on March 24, 2003, and commenced business on November 1, 2003, under the leadership of Mr Charles S.O. Okoye.

It was admitted to trade its securities on the floor of the NASD Exchange on January 25, 2018, with the trading code SDUBNPROP.

The company’s principal line of business includes purchase and sale of landed properties, management of real estate properties and construction of estate and estate sales. It has an issued and fully paid capital of 5.6 billion ordinary shares of N1 each.

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