By Dipo Olowookere All is now set for the majority shareholders of Flour Mills of Nigeria Plc to acquire the stocks held by minority investors at N86 per unit. This is because at the 64th Annual General Meeting (AGM) of the company held on Thursday, November 14, 2024, the resolution for the buyout scheme was… Continue reading Flour Mills Shareholders Agree Minority Stocks’ Buyout at N86 Per Share
Tag: Flour Mills
Flour Mills Stakes Big on Pan-African Expansion with Strategic Restructuring
As one of Nigeria’s oldest and most significant players in the food and agro-allied sectors, Flour Mills of Nigeria PLC (FMN) is making bold moves to secure its future as a regional and industrial powerhouse. The company recently announced a share acquisition plan aimed at transitioning the firm’s structure to better align with its long-term… Continue reading Flour Mills Stakes Big on Pan-African Expansion with Strategic Restructuring
Flour Mills Returns to Profitability Amid 67% Surge in Q1 Revenue
By Dipo Olowookere One of the leading flour millers in the country, Flour Mills of Nigeria, has bounced back to profitability in the first quarter of its financial year ended June 30, 2024, with a pre-tax profit of N7.4 billion compared with the loss position in the corresponding period of last year. This has been… Continue reading Flour Mills Returns to Profitability Amid 67% Surge in Q1 Revenue
Flour Mills to Pay N1.80 Dividends Amid Strong Revenue Growth Across Business Segments
By Dipo Olowookere Shareholders of Flour Mills Nigeria Plc will receive N1.80 per share as a dividend for the 2024 financial year of the organisation, which ended on March 31, 2024, the board has said. The board recommended the cash reward after the company put up an outstanding performance across its business segments in the… Continue reading Flour Mills to Pay N1.80 Dividends Amid Strong Revenue Growth Across Business Segments
Flour Mills Sells N48bn Commercial Paper to Capital Market Investors
By Aduragbemi Omiyale A notable flour milling firm, Flour Mills of Nigeria Plc, has approached capital market investors for the sale of N48 billion worth of commercial papers to support its short-term funding requirements. The exercise started on Thursday, April 4, 2024, and was expected to conclude today, Tuesday, April 9, 2024, but due to… Continue reading Flour Mills Sells N48bn Commercial Paper to Capital Market Investors
Shareholders Authorise Flour Mills to Make BAGCO Wholly-Owned Subsidiary
By Aduragbemi Omiyale The board of Flour Mills of Nigeria has been authorised to create a bagging subsidiary, BAGCO, which it acquired some years ago. Business Post reports that, in 2012, the Securities and Exchange Commission (SEC) approved the merger between Flour Mills and the Nigerian Bag Manufacturing Company (BAGCO) Plc. Shareholders of BAGCO, which… Continue reading Shareholders Authorise Flour Mills to Make BAGCO Wholly-Owned Subsidiary
Flour Mills Lifts Local Stock Market by 0.51%
By Dipo Olowookere The loss reported on the floor of the Nigerian Exchange (NGX) Limited on Monday was reversed on Tuesday on the back of renewed bargain-hunting. The local stock market appreciated by 0.51 per cent yesterday after the share prices of Flour Mills and 20 others closed in the green territory. Investor sentiment was… Continue reading Flour Mills Lifts Local Stock Market by 0.51%
Flour Mills Seeks N40bn from Bond Investors
By Aduragbemi Omiyale One of the top milling companies in the country, Flour Mills of Nigeria Plc, has rushed to the capital market to seek N40 billion from bond investors. The flour miller is requesting the funds to refinance its existing debts and also to fund its business operations, especially at a time its operating… Continue reading Flour Mills Seeks N40bn from Bond Investors
Flour Mills Offers N40bn Commercial Papers at 12.28%
By Aduragbemi Omiyale One of the flour millers in the country, Flour Mills of Nigeria Plc, is selling commercial papers worth N40 billion to interested investors in the capital market. The exercise, according to data obtained by Business Post, commenced on Wednesday, February 15, 2023, and will conclude on Monday, February 20, 2023. The company… Continue reading Flour Mills Offers N40bn Commercial Papers at 12.28%
Flour Mills Increases Dividend Payout by 30% as Revenue Hits N1.2trn
By Dipo Olowookere The board of Flour Mills of Nigeria Plc is proposing to pay shareholders of the company a dividend of N2.15 per unit for its 2022 financial year, which ended on March 31, 2022. This amount is higher than the N1.65 paid in the previous accounting period, reflecting an increase in dividend payout… Continue reading Flour Mills Increases Dividend Payout by 30% as Revenue Hits N1.2trn