• Wednesday, June 19, 2024
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NASCON Allied Industries to pay final dividend of 40kobo per share

NASCON’s borrowings rise to N4.8bn in one year

NASCON Allied Industries Plc has announced a final dividend of 40kobo per share subject to the appropriate withholding tax and approval. The final dividend for the period ended December 31, 2021 (same as in 2020) will be paid to shareholders whose names are in the Register of members as at Thursday, May 5, 2022.

On Monday, June 6, 2022 dividends will be paid electronically to shareholders whose names are in the Register of members as at Thursday, May 5, 2022, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank Accounts. The share price stood at N14.40 per share as at Wednesday.

NASCON Allied Industries Plc financial statements for the year ended December 31, 2021 shows its revenue grew by 18.81 percent to N33.279billion, from N28.010billion in 2020. Profit before taxation (PBT) rose by 8.49percent to N4.238billion, from N3.906billion in 2020. Profit after taxation (PAT) increased to N2.970billion from N2.690billion in 2020, up by 10.41percent. The company’s earnings per share rose to 112kobo in 2021 from a low of 102kobo in 2020.

Read also: Dangote Cement to pay N20 final dividend amid N364.4bn profit

Principal activities of the Company during the year include processing of raw salt into refined, edible and grade salt. The Company also produces Seasoning cubes. According to the Register of Members on December 31, 2021, Dangote Industries Limited holds 62.19percent with 1,647,763,557 ordinary shares of 50kobo each and Stanbic IBTC Nominees Limited holds 9.43percent with 249,861,155 ordinary shares of 50kobo each. Both held more than 5percent of the issued share capital of NASCON Allied Industries Plc.

NASCON Allied Industries Plc (formerly known as National Salt Company of Nigeria) was incorporated in Nigeria as a limited liability company on 30 April 1973. It was fully privatised in April, 1992 and became listed on the then Nigerian Stock Exchange (now Nigerian Exchange Limited) on 20 October, 1992.

At a general meeting held on 29 September 2006, the shareholders approved the acquisition of the assets, liabilities and business undertakings of Dangote Salt Limited and the issue and allotment of additional NASCON Plc shares as the purchase consideration. The major shareholder of the Company is Dangote Industries Limited that owns 62.19percent of the issued share capital, while the remaining 37.81percent is held by the general public.