McNicholes proposes 3 kobo dividend as 2017 PAT declines by 34%

McNicholes Consolidated Plc has proposed a final dividend of 3 kobo for its shareholders whose names appear in the comp0ny’s register at the close of business on 19th March 2018.

The dividend would be paid electronically subject to withholding tax, following the approval of shareholders at the annual general meeting (AGM) scheduled for 19th April at yet to be disclosed venue.

The company in a statement signed by Benedicta Owoke Sadare, S.E Nomuoja &Co Secretaries, the company’s registrars will be closed from March 20th to March 23, both dates inclusive.

The company said that dividend will be paid to shareholders whose names are contained in its registrar that have completed the e-dividend registration and have mandated their register to pay their dividend directly into their banks accounts.

On its shareholders still with unclaimed dividends and unverified share certificates, the company said, “shareholders with dividend warrants and share certificates that have remained unclaimed and are yet to be presented for payment or returned for validation are requested to complete the e-dividend registration or contact the registrar.

The company’s audited financial statement for the period ended 31 December, 2017 recently released to the Nigerian Stock exchange (NSE) showed that key performance Indies declined.

The company’s profit before tax dropped by 40.84 per cent to N41,520,583 , while in 2016 financial year PBT stood at N70,181,029.

Profit After Tax followed the same trend as it depreciated by 33.92 per cent to close the year at N38, 227,647, from N57, 848,754 recorded in 2016.

TURNOVER declined 11.58 per cent to N 967,193,655 in 2017 financial year form N1, 093,805,288 billion posted in 2016 financial year.

Cost of sales dropped by 9.11 per cent to N820, 939,405 million, against N903, 245,896m posted in the corresponding 2016.

Distribution, admin, and other expenses also decline by 17.95 per cent to N99, 109.338m against N120, 791,82m p posted in 2016 financial year.

Stories: Bonny Amadi