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  • Business - Companies
  • Updated: 4 weeks ago

UAC of Nigeria Approves N3.46 billion Dividends for Shareholders

UAC of Nigeria Approves N3.46 billion Dividends for Sharehol

UAC of Nigeria has announced the approval of dividend payments worth N3.46 billion representing N1.20 per share for the 2020 financial year.

The famous Gala sausage producer announced the decision as part of the resolutions reached at the recently concluded Annual General Meeting of the company, held at Marina, Lagos on 30th of June, 2021.

A breakdown of the total dividend of N1.20 per share shows that the sum of 65kobo per share was allocated as ordinary dividends to shareholders, while an additional 55kobo per share was earmarked as special dividends to qualified shareholders. The total dividend will be paid on all the outstanding 2,881,296,580 ordinary shares of the company.

In line with the above, it is imperative to note that the approved dividend which is subject to appropriate withholding tax will be paid out to all the shareholders, whose names appear on the Register of Members as at the close of business on 14th of June, 2021.

Affirming this, a notice issued by the company stated: ‘’ That an ordinary dividend of 65kobo per ordinary share and a special dividend of 55kobo per ordinary share be paid on July 1, 2021, to all shareholders registered in the books of the Company at the close of business on June 14, 2021.’’

Other decisions reached during the recently concluded AGM of the company are;

  • Two (2) retiring Directors were re-elected into the Board of the company.
  • Five (5) representatives were elected into the Statutory Audit Committee of the company.
  • The remuneration of the Non-Executive Directors of the Company was fixed at N106.6 million

UAC of Nigeria Plc had earlier reported a profit after tax of N3.86 billion in FY 2020, indicating a decline of 27.8% when compared with the amount declared in the same period of 2019.

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