• Business - Companies
  • Updated: August 08, 2022

Fidson Declares Dividend Of 50 Kobo Per Share

Fidson Declares Dividend Of 50 Kobo Per Share

A dividend of 50 kobos per share has been approved by Fidson Healthcare Plc for its shareholders.

The company approved this during its 23rd Annual General Meeting held in Lagos where it also disclosed financial statements.

The statement reads in part, “This dividend is a 100 per cent improvement on the 25 kobos per share declared in the 2020 financial year.

"The company in the year ended December 31, 2021, recorded a turnover of N30.860 billion, compared with N18.275 billion in 2020, representing an increase of 69 per cent. Operating profit grew from N3.097 billion in 2020 to N5.862 billion in 2021, representing an increase of 89 per cent.

"Also, profit after tax increased from N1.205 billion in 2020 to N3.097 billion during the year under review, representing an increase of 157 per cent.

“Given the outstanding performance recorded in the year under review, the Board, in addition to the dividend, was pleased to propose a bonus of 1 new ordinary share for every 10 ordinary shares of 50 kobos held by shareholders as at the record date.

"The shareholders unanimously approved this.”

Segun Adebanji, the Chairman, Board of Directors of the company said the firm continued to champion innovation and capacity expansion to address customers’ need for affordable and high-quality drugs despite the unfriendly socio-economic realities in Nigeria.

“Though the effect of economic challenges such as the foreign exchange situation, rising operating costs, poor government funding of the health sector and the incessant closure of markets, especially in the south-eastern part of Nigeria which disrupted the supply chain and regular supplies of our products.

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