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.
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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.