An Interim Dividend of N1.00 (One Naira) per ordinary share of 50 kobo each, that is, N10,113,674,444.00, subject to deduction of appropriate withholding tax and regulatory approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday 28 August 2018.
The Register of Shareholders will be closed: Wednesday 29 August 2018 to Tuesday 04 September 2018.
Qualification Date: Tuesday 28 August 2018
In line with the Authority granted by Shareholders to the Board of Directors (the Board) at the Extra Ordinary General Meeting held on 06 August 2015, the Board has authorised that Shareholders will have the option of electing to receive their Interim Dividends by way of New Ordinary Shares (Scrip Dividend). In view of this, and in order to allow ample opportunity for Shareholders who may wish to exercise the option of receiving Scrip Dividend instead of Cash Dividend, the Dividend Payment date in respect of this Interim Dividend shall be on Wednesday 26 September 2018 (Payment Date). On the above Payment Date, shareholders who have not elected to receive their Interim Dividend by way of Scrip Dividend, will have their Cash Interim Dividend paid electronically (provided that they have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts), or have dividend warrants dispatched to them (for those without e-dividend mandates). This Interim Dividend (whether cash or scrip) is only applicable to shareholders whose names appear on the Register of Members as at close of business on Tuesday 28 August 2018.
Scrip Dividend Price
The reference price to be used in determining any scrip dividend allotment shall be the volume weighted average price (VWAP) of the Company s shares on The Nigeria Stock Exchange (The NSE) for the five business days commencing on the day the ordinary shares are first quoted ex-dividend. Accordingly, the Scrip Dividend Allotment Price will be communicated to ALL Shareholders through The NSE on Wednesday 05 September 2018. Shareholders will thereafter be given until Tuesday 18 September 2018 to make their election should they wish to receive Scrip rather than Cash Dividend. All Shareholders are hereby requested to contact their Stockbrokers and the Registrars for further details.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar s E-Dividend Mandate Activation Form, which is also available on our Registrars website: https://firstregistrarsnigeria.com/downloadforms/, complete and submit to the Registrar or their respective Banks.