Industrial & Medical Gases Nigeria Plc (NGX: IMG) has declared a cash dividend of ₦0.50 for 2023 financial year ended 31 December, 2023.
IMG, formerly BOC Gases Nigeria Plc, paid a cash dividend of ₦0.40 for the 2022 financial year.
Also read; List of Dividends announced in 2024, qualification and payment dates
The ₦0.50 cash dividend on the issued share capital of 499,493,646 is subject to appropriate withholding tax and approval of shareholders.
Qualification date for the dividend is set for June 13th, 2024. On 2nd July, 2024, the dividends will be paid electronically to shareholders whose names appear on the Register of Members who qualify for the dividend and who have completed the e-dividend 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.firstregistrarsnigeria.com, complete and submit to the Registrar or their respective Banks.
The Company’s Annual General Meeting will be held at Radisson Hotel, GRA, Ikeja, Lagos on the 28th June 2024 at 11am.
IMG, owned by Lt. Gen. TY Danjuma (Rtd) through TY Holdings Limited (72% shareholding), reported a profit after tax of ₦852.75 million (2022: ₦448.34 million) for the year, and an Earning per Share of ₦1.71 (2022: ₦0.90).
About the company
Industrial & Medical Gases Nigeria Plc, a public company quoted on the Nigerian Stock Exchange in 1979, was incorporated as a public limited liability company on 12 November 1959 under the name Industrial Gases (Nigeria) Limited.
The name was changed on 10 July 1961 to Industrial Gases Limited and thereafter to BOC Gases Nigeria Plc on 17 March 1997.
It was a subsidiary of BOC Holdings Limited UK, which held 60% interest in the equity of BOC Gases Nigeria Plc.
The Company’s registered office address is Plots 1-3, Block H, Oshodi Industrial Estate, Oshodi Lagos.
In August 2021, BOC Holdings UK sold 60% of all the company shares it owned to TY Holdings Limited. The purchase brings TY Holdings Limited’s ownership of the company to 72%.
This change led to the name of BOC Gases Nigeria Plc being changed to Industrial & Medical Gases Nigeria Plc in August 2021, along with a new logo and trademark.
The Company engages in the manufacture of industrial and medical gases as well as the sale of special gases, welding and medical equipment.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur