The equity price of Custodian Investment Plc (NSE – CUSTODIAN) slumped over 9% on Monday after price adjustment for the dividend recommended by the company’s Board of Directors.
Custodian Investment Plc share price was adjusted on Monday for the N0.45 per share dividend for the 2020 financial year as recommended.
The ex-dividend price was N6.55 (opening price on Monday) following a close of N7.00 per share on Friday.
However, the share price fell to N6.00 per share at the time of writing this report due to sell-off on the stock. This represents a 9.17% decline from the ex-dividend price.
The share price of Custodian Investment Plc had risen from N6.00 on 26th March 2021 to N7.10 on 1st April 2021.
The N0.45 dividend is subject to the approval of shareholders at the company’s forthcoming Annual General Meeting.
If approved, the dividend will be paid on 22nd April 2021 electronically to shareholders whose names appear on the Register of Members as at the close of business on 9th April 2020.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.