C&I Leasing

[chokit]

C & I Leasing pays 6k dividend NIGERIA Oct 2, 2008

To raise fresh funds from the Exchange
FOLLOWING a profit after tax (PAT) of N375 million posted for the 2007/2008 financial year, shareholders of C and I Leasing Plc, have approved the proposed dividend payout of six kobo by the company.
The company has also announced its intention to raise fresh funds from the Nigerian Stock Exchange (NSE) by a way of public offering and rights issue.
According to the company, the decision to raise additional capital was reached at its last extraordinary general meeting in which shareholders urged it to raise the funds to enhance its expansion drive even as they approved the increase of the authorised share capital by another one billion units of 50 kobo per share.
With the approval of the proposed dividend, shareholders of the company whose names appeared in the company's register of members at the close of business on August 4, 2008, began immediate receipt of their dividend warrants.
Speaking at the company's 17th yearly general meeting in Lagos recently, the Chairman of the company, AVM Abdul Bello said the N375 million PAT declared by the company was an increase of 179 per cent from N134 million recorded as at year ended 2007.
He added that the company in the year under review also posted a turnover of N2.4 billion, up from the N1.6 billion posted the previous year. He stressed that the rise in turnover was as a result of increasing revenue from leasing, outsourcing and car rental services.
The chairman, however, said that with an interim dividend of six kobo earlier paid in the year, "this brings the dividend for the year to 12 kobo per Ordinary Share which is going to be payable less withholding tax".
Bello further said that the company's direct cost ratio improved from 72 per cent to 65 per cent, which was largely due to savings in interest costs resulting from the use of proceeds of the recently concluded public offer.
He added that the gross profit increased by 94 per cent to N1.02 billion in 2008 from N524 million in 2007, which represents an increase in gross margin ratio to 41 per cent from 32 per cent over the period.
On Capital Investments, he said the company made investments amounting to N518 million in the year under review as against N538 million in 2007.
For the future, the chairman said the company is seriously focused to take the advantage of emerging opportunities in the telecommunication, oil and gas, automobile sub-sectors, stressing that in line with their operations, the key drivers will be the start-up of operations by C & I Motors, commencement of operations by Walter Smith Petroleum at Ibigwe oil field, proposed modern taxi services, and the proposed right issue\ public offer to raise additional operating capital.
Source: © 2003 - 2007 @ Guardian Newspapers Limited

[billions]

C&I LEASING PLC
2nd Quarter ended 31/07/2008
2008 2007 % Change
Turnover N'Bn 2.98 1.09 173.39%
PBT N'mn 306 208 47.12%
Taxation N'mn -37 -31 19.35%
PAT N'mn 269 177 51.98%

[BLUEMONEY]

Originally Posted by billions

C&I LEASING PLC
2nd Quarter ended 31/07/2008
2008 2007 % Change
Turnover N'Bn 2.98 1.09 173.39%
PBT N'mn 306 208 47.12%
Taxation N'mn -37 -31 19.35%
PAT N'mn 269 177 51.98%

This company has made it a Tradition of paying 6 kobo. I just wish they can increase it.

[knightofdelta]

Originally Posted by BLUEMONEY

This company has made it a Tradition of paying 6 kobo. I just wish they can increase it.

Hahaha... you no go kill me o

[prince dagbolu]

Originally Posted by BLUEMONEY

This company has made it a Tradition of paying 6 kobo. I just wish they can increase it.

You are right. I believe the senior managers and directors have had their pay increased. Why won't they increase our divided. Afterall, we the shareholders own the business.

[BLUEMONEY]

Originally Posted by prince dagbolu

You are right. I believe the senior managers and directors have had their pay increased. Why won't they increase our divided. Afterall, we the shareholders own the business.

That is true because They have been driving round town in Flashy cars like some of these Bankers. if I am able to attend the next AGM, I will bring up this issue. That was how they promised issuing bonus but we are yet to receive it.

[knightofdelta]

Originally Posted by BLUEMONEY

That is true because They have been driving round town in Flashy cars like some of these Bankers. if I am able to attend the next AGM, I will bring up this issue. That was how they promised issuing bonus but we are yet to receive it.

Lack of corporate governance is fraught in Nigeria at the moment. Investors and shareholders have no say in the running of their businesses.

[BLUEMONEY]

Originally Posted by knightofdelta

Lack of corporate governance is fraught in Nigeria at the moment. Investors and shareholders have no say in the running of their businesses.

But thier voice would be heard & Obeyed if they sound it loud enough and through the right Quaters regardless of the Excuses they may want to give.

[bodrea]

I will be happy if anybody can help me on the reason why C&I Leasing is no longer in list of stocks being traded in Market lately. I hope is not among those delisted. and if that is the case what I'm suppose to do. Please, let sb enlighten me.

[knightofdelta]

Originally Posted by bodrea

I will be happy if anybody can help me on the reason why C&I Leasing is no longer in list of stocks being traded in Market lately. I hope is not among those delisted. and if that is the case what I'm suppose to do. Please, let sb enlighten me.

People are not buying C&I Leasing because of its high price relative to the current market trend. This was caused by the technical suspension placed on it. It has not been delisted. Your stock is safe.