AG Leventis proposes N264.7 million as final dividend on N177 million loss
A.G. Leventis Plc. has filed its audited full year (FY) 2015 results with the Nigerian Stock Exchange (NSE) with a Profit before tax which dropped by 38.3 percent to N329.4 million from N534.04 million, while a loss after tax of N176.986 million was recorded for the FY 2015 against a Profit after tax of N270.6 million recorded for FY 2014.
The results also show that the company increased Revenue by 6.3 percent or N742.15 million to N12.54 billion for FY 2015 from N11.79 billion recorded for the same period of 2014.
Net assets likewise declined by 3.14 percent or N294.9 million to N9.09 billion from N9.39 billion recorded for the FY ended 31 December 2014.
Nevertheless, the company announced a proposed final dividend of N264.7 million which translates to 10 kobo to be paid on 9th September, 2016 following shareholder approval at its Annual General Meeting scheduled to be held on the 8th of September, 2016.
A.G Leventis Plc is currently tagged BMF by the NSE , the NSE uses the BMF tag for companies that are operating Below listing standard and have Missed a Regulatory Filing. In this case, A.G Leventis is tagged BMF as it is one of the eleven companies operating below listing standard with free float deficiencies.
According to the NSE’s latest compliance report, AGLEVENT free float presently stands at 11.64 percent. This falls short of the regulatory requirement of 20 percent for companies listed on the main board, but the NSE has given A.G Leventis 9 months to comply as its compliance due date is set for 31st march 2017, with the expectation that it will free up more of its ordinary shares to the investing public to allow an orderly market and pricing on their shares. A.G leventis shares last traded at 90 kobo per share.
