The Board of Directors of Learn Africa Plc (NGX: LEARNAFRCA) has proposed a dividend of 15 kobo per 50 kobo ordinary share for the financial year ended 31 March 2021.
The proposed dividend which amounts N115,717,500 is subject to the approval of shareholders in the company’s next Annual General Meeting and appropriate withholding tax.
If approved, the dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday 8th October 2021, according to the filing with the Nigerian Exchange.
On Friday, 22nd October 2021, dividends will be paid electronically to shareholders 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 do so.
Learn Africa Plc’s registrar is First Registrars Nigeria. The e-dividend form is available on the Registrar’s website and on Securities and Exchange Commission (SEC) website.
- Read also: List of Dividends announced in 2021, qualification and payment dates
- Stocks you can buy today and still qualify for the dividend
For the year ended March 31, 2021, Learn Africa Plc’s revenue dropped to N2.39 billion from N2.87 billion in 2020. The profit after taxation declined to N161.08 million in 2021 from N79.99 million in 2020.
The Proposed dividend payout is 71.84% of the profit after tax.
The share price of Learn Africa remains unchanged at N1.30 per share on the floor of the Nigerian Exchange on Thursday at the time of writing this report.
The dividend yield at the current price will be 11.54% . However, actual yield will be lower when the withholding tax and buy charges are taken into consideration.
Learn Africa Plc has 771,450,000 outstanding shares.
About Learn Africa Plc
The Company was incorporated in Nigeria under the Companies and Allied Matters Act as a Private Limited Liability Company in Nigeria in 1961. It also commenced business operations that same year. The Company was converted to a Public Limited Liability Company on 28 May 1991 and its shares listed on the Nigerian Stock Exchange on 23 July 1996.
The principal activities of the Company are publishing and distribution of educational materials for all levels of learning – Nursery, Primary, Secondary and Tertiary.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
