A final dividend of N2.60 per ordinary share of 50 kobo each is to be paid to shareholders of BUA Cement Plc (NGX: BUACEMENT). This is according to a corporate action announcement by the cement manufacturer, posted on the Nigerian Exchange.
The dividend will be subject to appropriate withholding tax and approval of shareholders at the company’s Annual General Meeting. With 10% withholding tax applicable, the net dividend receivable by each shareholder will be N2.34.
At the end of trading on Thursday, the share price of BUACEMENT stood at N70.75. With a final dividend of N2.60, the dividend yield for Investors will be 3.67% before withholding tax deduction. With the application of the withholding tax, the dividend yield drops to 3.30%.
To qualify for the dividend, the shareholder’s name must appear in the Register of Members as at the close of business on 8th July, 2022.
On 21st July, 2022, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 8th July, 2022 and who have completed the edividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars: www.africaprudential.com, complete and submit to the Registrar or their respective Banks.
Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar
The Company’s Annual General Meeting will be held at Transcorp Hilton Hotel Abuja on 21st July, 2022 at 11:00am.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur