Geregu Power Plc (NGX: GEREGU) Plc has announced a final dividend of N8.00 per ordinary shares, for the period ended 31 December 2023
The proposed dividend is subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 27th February, 2024
This was contained in corporate actions announcement signed by the company’s Secretary, Akinleye Olagbende, dated 30th January, 2024.
The qualification date is 27th February, 2024,.
On 28th March 2024, the dividend worth N20 billion will be paid electronically to qualified shareholders who have mandated their accounts.
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
Geregu Power Plc’s registrar is Meristerm Registrars and Probate Services Limited. The E-dividend mandate form can be downloaded from the registrar’s website.
- Read also; List of Dividends announced in 2024, qualification and payment dates
- List of Dividends announced in 2023, qualification and payment dates
GEREGU’S share price rose by 5.44% to close at N950 per share at the close of trading on Monday.. The share price has risen 125.81% YTD. The dividend yield at the current price is 0.84%, which would be lower when withholding tax purchasing charges are taken into account.
The company has 2,500,000,000 oustanding shares and a market capitalization of N2.375 trillion at the close trading on Monday.
For the year ended 31 December 2023, Geregu Power Plc grew its revenue to N82.91 billion from N47.61 billion in 2022. The profit for the year also increased to N16.05 billion from N10.17 billion in 2022.
The company’s earnings per share rose to N6.42 from N4.07 in 2022.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
