Business
May and Baker offers shareholders N431m dividend for Full Year 2019
May and Baker Nigeria Plc has declared it would offer about N431.309 million in total dividend, translating to N0.25 per share for Full Year 2019.
The board of directors of the drugmaker is hoping to obtain shareholders’ consent at its forthcoming Annual General Meeting to be held on 4th June 2020, after which it will proceed to pay the cash reward.
According to May and Baker’s notice, published on the Nigerian Stock Exchange (NSE) website on Wednesday, those interested in leveraging the offer must invest in the company’s stocks before the qualification date slated for 26th May.
The corporate action followed the release of the company’s Consolidated Financial Statements for FY2019, where it posted outstanding improvements across its key performance indices, especially a 22.4% expansion of its profit for the year from N585.201 million to N716.440 million.
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The register of members of May and Baker will be closed between 27th and 29th May towards the payment of dividends on 8th June.
“Shareholders who are yet to complete the e-dividend registration are allowed to download the Registrar’s (Veritas Registrar Limited) E-Dividend Mandate Form, which is also available on the website of the Registrars: www.veritasregistrars.com, complete and submit to the Registrar or their respective banks” the company’s statement to the NSE read.
May and Baker’s outstanding shares number over 1.73 billion with Earnings Per Share of N0.42.
Its dividend yield currently stands at 6.78% while its Price to Earnings (PE) ratio is 7.08.
May and Baker opened trade on the floor of the NSE today at N2.64 per share.
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