Julius Berger proposes 1 for 5 bonus, N2.50 final dividend

Construction firm, Julius Berger Nigeria Plc has announced a proposed bonus issue of one new ordinary share for every five ordinary shares currently held.

The firm is simultaneously proposing a final dividend per share of N2.50 for Full Year 2019 following an exceptional financial performance at FY2019, where its Profit After Tax (PAT) advanced by 70% to N10.304 billion.

By this feat, Julius Berger is the first Nigerian company this year to offer the twin benefits of scrip issue and dividend to its shareholders.

Read also: Union Bank shuts down operations over COVID-19

The proposals are subject to shareholders’ endorsement at its next Annual General Meeting timed to hold Thursday 18^th June 2020.

Shareholders whose names appear on the company’s register of members at the Close of Business on 29^th May 2020 will qualify for the bonus and the dividend issue.

Dividends will be paid electronically on 19 June 2020 “to shareholders whose names appear on the register of members as at 29 May 2020 and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts,” Julius Berger’s notice to the Nigerian Stock Exchange (NSE) reads in part.

The register of shareholders will be closed on 1^st to 3^rd June 2020 in preparation for the bonus issue and the dividend payout.

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