NASCON Allied Industries Plc has announced a dividend proposal of N0.40 per share for Full Year 2019.
The proposed dividend is a steep fall from the N1 per share dividend declared by the salt maker for FY2018, marking a 60% depreciation in dividend yield year-on-year.
In its notice to the Nigerian Stock Exchange (NSE) on Friday, NASCON’s Board of Directors disclosed it was hoping to get shareholders’ nod for this resolution at its forthcoming Annual General Meeting (AGM).
A member of Dangote Group of companies, NASCON had at the end of January reported a 56% plunge in profit for FY2019 on the back of aggravating cost of doing business, which saw Cost of Sales and Administrative Expenses climb up by 20.4% and 8.51% respectively.
Its dividend yield is 10.64 with an Earnings Per Share (EPS) of N0.72.
NASCON closed trade on the floor of the NSE Friday at N8.55 per share.
Earnings Per Share is the profit that each unit of a company’s ordinary shares yields during a particular period. As a metric used for investing decisions, it is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares. Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.
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