By Peter Egwautu
SHAREHOLDERS of R.T Briscoe Nigeria Plc have unanimously endorsed the dividend and bonus proposed by its Board of Directors for the financial year ended December 31, 2009.
The shareholders at the Annual General Meeting (AGM) held last week in Lagos approved the 10 kobo dividend per share as well as the bonus of one for five shares to every shareholder whose name appear on the companyâ€™s register at the close of business on April 16, 2010.
Majority of the shareholders who spoke at the meeting commended the Board for the dividend and bonus declared, even as they tasked them to work harder in order to declare higher dividend in the next AGM.
Speaking, Mrs Mary Joke Shofowora, a shareholder from Independent Shareholders Association of Nigeria (ISAN) said, â€œ We are commending the company for the bonus and dividend even though it is smaller than what was declared the preceding year. We want the management to work harder to be able to produce better result next year.
We commend the company for the donation made to the less privilege people during year under review and implore the company to continue to contribute to the society.â€
Mr. Michael Cole, another shareholder said, â€œ We thank the company for employing less privilege people during the year under review.
This shows that the company is concerned about the welfare of the people and we hope it will continue. How are we going to recover our outstanding debts? We are recommending that a committee should be set up to speedy the recovery of debt owed to the company so that it will help enhance our operations.
We are also happy with the proposed Assets Management Company (AMC) by the Central Bank of Nigeria (CBN) and implore our management to take advantage of it in disposing any toxic assets. The issue of unclaimed dividend should also be tackled by the management.
Alhaji Babatunde Sarumi, another shareholder commended the company for its performance given the terrain it operated upon. He further tasked the management to be proactive so that the company can record better results.
According to him, â€œ Our turnover went down while the cost of sales went up. Something should be done to reduce the expenses while our marketing should be enhanced. Why should we be working for the banks as the interest rates for the money we borrowed from them keep rising. I think it is time we approach the shareholder for additional fundsâ€|
Responding, the Chairman, R.T. Briscoe Nigeria Plc, Mr. Clement Olowokande commended the shareholders for their views and sentiments, stressing that the management has assured the Board that they were going to be proactive in order to produce better results.