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Julius Berger to pay N3.63bn in proposed N2.75kobo final dividend

Julius Berger gets regulatory warning for insider trading during closed period

Construction giant, Julius Berger Nigeria Plc proposes to pay its shareholders a final dividend of N2.75kobo per share. This amounts to N3.6billion considering the company’s 1.320billion shares outstanding.

The proposed dividend will be paid to shareholders whose names appear in the register of members as at close of business on May 29, 2020, the company noted.

This comes as the company proposes bonus in the proportion of one (1) new ordinary share for every five (5) existing ordinary shares held.

At the Nigerian Stock Exchange (NSE), the shares of Julius Berger at N22.15kobo on Monday March 16 traded near its 52-week high of N27.50 against a corresponding period low of N18. With a record positive return of +11.3percent year-to-date (YtD), Julius Berger stock outperforms the NSE All Share Index (ASI) which has negative return of about -15.41percent same day.

The dividend will be paid on June 19, 2020 according to the company in a note following its recently released full year audited financials for the year ended December 31, 2019.

Julius Berger grew its group revenue by 36.9percent to N266.43billion as against N194.617billion in 2018. The group profit before taxation (PBT) increased by 36.49percent to N13.918billion from N10.197billion in 2018.

The group profit for the review year stood higher at N8.75billion as against preceding year low of N6.10billion, representing 43.56percent increase.