The Board of Directors of Cutix Plc has proposed a final dividend of 15 kobo per 50 kobo ordinary share, subject to appropriate withholding tax and approval, for the period ended 30 April 2021.
The directors also proposed bonus shares in the ratio of One new share for every One existing share (1 for 1) held by shareholders whose names appear in the Register of Members at the close of business on Friday, November 12, 2021, subject to the approval of the appropriate regulatory authorities.
The qualification date for the dividend and bonus shares is Friday, November 12, 2021, while the dividend payment date is November 29, 2021.
If approved, the dividend which amounts to N264,198,303.9 will be paid electronically to qualified shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Cutix Plc has 1,761,322,026 outstanding shares, and a market capitalization of N8,436,732,504.54.
The share bonus will double its outstanding shares to 3,522,644,052.
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Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit to the Registrar or their respective Banks.
In the financial year ended April 30, 2021, Cutix Plc reported a 34% growth in revenue to N6.75 billion. The profit after tax jumped 60% to N594.02 million.
The earnings per share stood at 30.83 kobo.
The proposed dividend represents 44.5% of the company’s profit after tax.
On Friday, Cutix Plc shares lost 0.42% to close at N4.79 per share. However, this represents a 112.89% increase from the N2.25 it stood at on June 1, 2021.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.