The Board of Directors of Beta Glass Plc (NGX: BETAGLASS) has approved the recommendation for a declaration of a gross dividend of N1.10 kobo per ordinary share of 50 Kobo each.
The approval was given at the meeting of the Board of Directors of the company held via videoconference on Thursday March 24, 2022 at Iddo House, Iddo Lagos at 10.00am.
The N1.10 kobo dividend (2020: N1.04) subject to approval of shareholders at the next Annual General Meeting, will be payable to the shareholders whose names appear on the Company’s Register of Members as at June 10, 2022.
The Board also approved a resolution that a recommendation of Bonus shares in the proportion of one new ordinary share for every five existing ordinary shares (1:5), be issued to the shareholders whose names appear on the Company’s Register of Members as at June 10, 2022.
The Board also resolved that the Directors be and are hereby authorized to deal with fractional shares resulting from the issuance of the Bonus shares as they deem fit in pursuant to the extant laws, rules and regulations.
Finally, the Board approved the resolution that the Annual General Meeting of the Company should hold on Tuesday July 5, 2022.
In its unaudited Interim Financial Statements for the period ended 31st December 2021, BETAGLASS reported a profit after tax of N4..96 billion, a significant improvement on the N3.46 billion reported in the preceding year.
About the Company
Beta Glass Plc manufactures, distributes and sell glass bottles and containers for the leading soft drinks, breweries, wine and spirit, pharmaceutical, foods and cosmetics companies.
The company has manufacturing plants in Agbara Ogun State and in Ughelli Delta State. Beta Glass Plc exports to five countries namely; Cameroun, Ghana, Liberia, Sierra-leone and Guinea.
The Company is a public limited company, which is listed on the Nigerian Stock Exchange and incorporated and domiciled in Nigeria. The address of its registered office is Iddo House, Iddo Lagos State, Nigeria. P.O. Box 159.
Beta Glass Plc is a subsidiary of Frigoglass Industries Nigeria Limited which holds 61.9% of the ordinary shares of the Company. The ultimate controlling party is Frigoglass S.A.I.C, Athens.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur