Nestle gives bonus, cash dividend
February 27th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Shareholders of Nestle Nigeria Plc will indeed be smiling to the bank soon as they await their dividend payout, as well as bonus issues for the 2006 financial year. The company declared a dividend of N8.35 per share and a bonus issue of 1 for 4 recently.
When added to the earlier paid interim dividend of N2.00, the total payout comes to about N10.35. The company recorded a turnover of N28.42 billion as against N34.33 billion in 2005. Profit after tax increased from N5.3 billion in 2005 to N5.7 billion.
The company in the past continued to maintain its consistent dividend payout and bonus issue ahead of its other peers in the Food, Beverages and Tobacco sub sector of the capital market.
Nestle Nigeria s a subsidiary of Nestle S.A Switzerland, which owns 62.3 percent equity in the company. The company closed trading on Friday February 23, 2007 at N299.88 after gaining N54.88 during the week.
Investors who are not yet shareholders of Nestle and are willing to benefit from the dividend have to buy the shares before April 16, which is the closure date of its register.
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