Shareholders of Global Spectrum Energy Services last Friday were notified of the decision of the management to pay an interim dividend at the end of the third quarter ended September 30, 2019. The notice came to the authorities of the Nigerian Stock Exchange (NSE) through a release endorsed by Ayoshile Kuforiji-Kehinde, on behalf of Rayfield Associates, the company secretary.
“This is to inform the Nigerian Stock Exchange and the investing public that, further to the meeting of the Board of Directors of Global Spectrum Energy Services Plc. held on Thursday, 12 September 2019, it was agreed that a final decision on the proposals for interim dividend will be made alongside the time of release of Third Quarter Financial Report of the Company”, Kuforiji-Kehinde stated.
At the end of the second quarter ended June, Global Spectrum Energy Services raked in N1.075 billion as revenue, in contrast to N877.11 million realised same period in 2019. Gross profit for the period stood at N253.7 million, a bit lower than N287.6 million that was realised in comparable period in 2018.
Operating profit for the period was N103.04 million compared with N142.9 million in June last year. Profit before tax followed similar trend as it stood at N101.03 million as against N140.8 million in June 2018.
The total comprehensive income for the period was N83.6 million, representing 31 percent decline when compared with N121.3 million the firm made in June 2018.
In the current financial year, a number of listed companies have announced interim dividends. These companies include Access Bank, Zenith Bank, Guaranty Trust Bank (GTB), Stanbic IBTC Bank, Rak Unity Bank, Custodian Investment and the United Bank for Africa (UBA).
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