NASCON to pay first dividend in 12 years
June 6th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
With cumulative losses spanning over six years, which saw the funds of shareholders run into the negative, the National Salt Company Nigeria Plc (NASCON) has returned to profitability with N160 million in the first quarter of 2007.
It is predicated on this that the company’s Managing Director, Mr. Ade Adeniji has forecasted on dividend of 60 kobo per share for the current financial year and 100 kobo per share in 2009. According to him, the company has returned fully to profitability and will pay dividend this year. He further said that the company plans to invest $12 million on the acquisition of “our offshore company” and product expansion.
Furthermore, he said the company has commenced the production of tomato puree to be known as Petti Brand, and other processed foods, together with refined salt in sachet, which would eventually be for export. “We plan to invest $12 million on possible acquisition offshore and product expansion, and we have excellent supply drains. We will also go into exports and substitute imports. Our first quarter looks good and we expect a better year ahead.”
In the next few weeks, the company will release shares to be sold on this market.
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[...] NASCON to pay first dividend in 12 yearsNASCON to pay first dividend in 12 years June 6th, 2007 By Ogbuotobo Chuks With cumulative losses spanning over six years, which saw the funds of shareholders run into the negative, the National Salt Company Nigeria Plc (NASCON) has returned to profitability with N160 million in the first quarter of 2007. It is predicated on this that the [...]
am one of the share holder of these company 12 years ago .ihave not receive any dividend so far .my new address is 5,ogunfunmi street okerube abaranje in alimosho area .ikotun