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By Adedapo Adesanya

Nigeria’s leading dairy company, FrieslandCampina WAMCO Nigeria Plc, is proposing the payment of N4.73 as a final dividend to its shareholders for the financial year 2021.

This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) exchange, where it trades its securities.

The notice filed on Wednesday said the proposed dividend comprises two tranches with a final cash dividend of 4.23 naira with a free share of 50 kobo.

The payment will be subject to shareholder approval at the company’s annual general meeting (AGM) scheduled for Thursday, May 26, 2022.

According to the company, its Annual General Meeting will be held at Sheraton Lagos Hotels at 30 Mobolaji Bank Anthony Way, Ikeja, Lagos at 10 a.m.

If the dividend payment is approved at the meeting, the company’s shareholders will be credited with a payment date that has not yet been disclosed.

However, the dividend qualification date has been set for Thursday, April 28. This means that only those who hold the shares of the company on that date will be eligible to receive the stipulated dividend payment.

The notice stated that the closing of the company’s register will take place from Friday, April 29, 2022 to Thursday, May 5, 2022 (both dates inclusive).

Compared to the final dividend paid last year, the amount to be paid for the financial year 2021 is lower by 29.8% or N2.01, as shareholders received N6.74 as final dividend for the reference year 2020.

In fiscal year 2019, shareholders of the company received N2.68 Naira as interim dividend and N6.81 Naira as final dividend, bringing the total cash compensation for the year to 9, 49 naira.

At the close of trading on the NASD OTC exchange yesterday, Business post found that the company’s stock was one of the winners as it recorded a gain of N2.73 to trade at N130.47 per unit from the previous N127.74 per unit.

Friesland Campina Wamco Plc was incorporated in April 1973 and admitted to trading on the NASD OTC Securities Exchange on July 25, 2013, with security code SDFCWAMCO.

The Company is principally engaged in the manufacture and marketing of evaporated milk, instant milk powder and other dairy products. It produces top Nigerian milk brands like Peak, Three Crowns, Coast, NUNU and Olympic.

It has an issued and fully paid-up capital of 976 million ordinary shares of 50 kobo each.

About William G. Patrick

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