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    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

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    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

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    Breaking: President Joe Biden diagnosed with “aggressive” cancer

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    Mexican Navy Ship crashes into New York Bridge

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    Pope Leo XIV holds inaugural mass, sets tone for his papacy

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    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

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    Beta Glass Plc announces N2.95 final dividend for 2024 FY

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    “Bankruptcy” report – Fidelity Bank Plc clarifies position

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    DMO offers N300 billion FGN bond for auction in May

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    NGX Daily Equities Market Report: Market gains for third consecutive days

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    BITCOIN hits $103,000 for the first time

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    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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Market Spotlight: Price adjustment of Lasaco Assurance Plc

Tuesday, 1 September 2020, 9:49 am
in Markets, Stocks/Equities
0
The wait for LASACO’s 2019 Financial Result is over… PAT drops by 57% in 2019
Share Share Share Share Send as Email

Lasaco Assurance Plc (NSE ticker – LASACO) share price was adjusted on Tuesday , for a 5 kobo dividend, as proposed by the Directors of the company for the year ended 31 December 2019.

LASACO’s ex-dividend price on the Nigerian Stock Exchange (NSE) on Tuesday is N0.26, following a close price of N0.31 on Monday.

The proposed dividend is subject to shareholders’ approval at the company’s 40th Annual General Meeting, which will be held by proxy at Oriental Hotel, 3, Lekki – Epe Express Way, Function Rooms 2, 3, and 4, Victoria Island, Lagos on Tuesday, 15th September 2020 at 11 am.

LASACO posted a 57% decline in Profit for the year ended 31 December 2019; N315.74 million, which is N420.53 million lower than the N736.27 million recorded in 2018 financial year.

  • Read also; Zenith Bank Plc discloses H1 2020 report release date, explains reason for the delay
  • Equity market ends August on a positive note as Market Cap rose by N331.216 billion

Dividend payment

If the proposed dividend of 5 kobo per share as recommended by the Directors is approved by members at the Annual General Meeting, e-dividends will be paid to Shareholders’ accounts in accordance with the directive of the Securities and Exchange Commission on Tuesday, 22 of September 2020 to the shareholders whose names appear in the Register of Members at the close of business on Monday, 31 August 2020.

If the dividend is approved, this will be the fourth straight year of dividend payout by the company, as it strives to join the league of consistent dividend-paying companies on the exchange.

The company’s dividend has been increasing progressively over the last four financial years as well; 3 kobo for the 2016 financial year, 4 kobo for the 2017 financial year, 5 kobo for the 2018 financial year.

Written by;

Ifunanya Ikueze

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