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Nestle proposes N10.60 dividends

By Michael Eboh
Nestle Nigeria Plc has announced a dividend of N10.60 per share for its shareholders in its 2009 financial year.
According to a statement by the company released to the Nigerian Stock Exchange (NSE), Wednesday, the dividends which is subject to the approval of its shareholders at its Annual General Meeting, scheduled to hold, April 27, will be paid out, April 28, 2010. It further stated that the closure of its register of members will be April 16, 2010.

Also, Neimeth International Pharmaceuticals Plc, in its third quarter ended, December 31, 2009, financial report released to the investing community, recorded significant improvement in all its financial indicators.

Its turnover grew by 10.1 per cent to N1.352 billion compared to N1.228 billion recorded in the comparable period of 2008, it posted a profit before tax of N54.17 million compared with a loss before tax of N123.757 million in 2008; while its after tax profit stood at N36.838 million compared with a loss after tax of N123.757 million in 2008.

Its working capital grew slightly by 7.74 per cent to N1.322 billion from N1.227 billion in 2008, its net assets appreciated by 3.45 per cent  to N1.109 billion compared with N1.072 billion recorded in 2008.

In its third quarter ended, December 31, 2009, financial report, University Press Plc recorded a turnover of N1.616 billion, rising by 34.22 per cent from N1.204 billion recorded in the comparable period of 2009, its profit before tax appreciated by 46.31 per cent to N444.956 million from N304.117 million in 2008, while it posted a profit after tax of N307.330 million, rising by 45.87 per cent from N210.692 million.

University Press’ working capital for the period under review appreciated by 39.01 per cent to N917.820 million from N660.245 million recorded in the comparable period of 2009, while its net assets grew by 17 per cent to N1.287 billion from N1.100 billion recorded in 2008.


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