May & Baker Plc declares dividend payment of N0.30 Kobo to shareholders

By Abubakar Yunusa

May & Baker Plc has announced a dividend payment of N0.30 kobo per 50 kobo ordinary shares for the financial year ended 31 December 2021.

This dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

According to the disclosure filed with the Exchange (NGX), shareholders are to ensure their names are registered in the Register of Members by the qualification date of May 17, 2022.

On Friday, June 3rd, 2022, the dividend which amounts to N518 million will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as of Tuesday, May 17th, 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is Veritas Registrars Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

May & Baker Plc has 1,725,234,886 outstanding shares and a market capitalization of N7.59 billion at the time of filing this report. The company’s shares opened trading on the 6th of May, 2022 at N4.40 per share and closed at N4.40 per share

Meanwhile, May & Baker Plc had recently released its Q1 2022 financial results for the period ended 31 March 2022, reporting a profit of N195 million, representing a 21% decline year on year. Revenue of N3.34 billion was reported in the full-year period compared to N2.70 billion in the same period of 2021.

Earnings per share were recorded as N0.11 kobo against N0.14 kobo recorded in the corresponding period of 2021.

Year-to-date, the company’s shares have appreciated by 9.45% from N4.02 at the beginning of the year to N4.40 at the time of writing this report