Cutix Plc (NSE ticker: Cutix) on Friday informed the Nigerian Stock Exchange (NSE) and the Investing public, that the Board approved the full year audited financial report of the company, for the period ended 30 April 2020 at the Board of Directors meeting held on Thursday 16 July, 2020.
According to the notification singed by the Company Secretary, Nwokporo Chinwendu dated 17 July 2020, the Board also recommended a dividend of 12.5kobo per share amounting to over N220 million naira.
The proposed dividend however, is subject to shareholders approval at the 37th Annual General Meeting of the company which will be held on Friday 27 November 2020.
The company disclosed that it will file the audited financial statements for the period ended 30 April 2020 with the Exchange on or before 29 July 2020.
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Cutix Plc is into the business of manufacturing and marketing of electrical , automobile and telecommunication wires, cables, and related products.
At the close of trading on Friday on the NSE, the share price of Cutix stood at N1.82 per share. The proposed dividend of 12.5kobo per share will give a dividend yield of 6.87% at its current price.
Note: dividends are subject to 10% withholding tax in addition to buy charges an investor will incur in the process of acquiring the shares, thus the actual dividend yield will be lower than 6.87% at the current price.
The 52 week high and low prices of Cutix is N1.88 and N1.16 respectively. YTD the share price is up by 36.84%. In one year it is up by 22.15% while in two years is down by 39.33%.
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