The Board of Directors of Presco Plc (NSE: PRESCO) proposed two naira (N2.00) dividend per 50 kobo ordinary share for the financial year ended 31st December 2020.
The proposed dividend which amounts to N2.00 billion is subject to the approval of shareholders 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 Tuesday the 6th day of July 2021, according to the filing with the Nigerian Stock Exchange (NSE).
The dividend will be paid electronically on Monday 6 July 2021 to qualified shareholders who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.
Read also: List of Dividends announced in 2021, qualification and payment dates
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s e- dividend mandate activation form which is available on the website.
The registrar for Presco Plc is first Registrars Nigeria. The form is available on the Registrars website and on Securities and Exchange Commission (SEC) website.
The equity price of Presco Plc has closed flat at N72.00 since 30 March 2021. It is currently trading at N67.95 per share on the floor of the NSE at the of this report although the traded quantity is not enough to initiate a price change.
In 2020, Presco Plc revenue rose to N23.89 billion from N19.72 billion in 2019. The profit after taxation increased to N5.3 billion in 2020 from N3.84 billion in 2019.
Presco PLC was incorporated on 24th September 1991 and was listed on the Nigerian Stock Exchange on 10th October 2002.
The principal activities of the company are the development of oil palm plantations, palm oil milling, palm oil processing and vegetable oil refining. The products of the company are: refined bleached and deodorized palm oil, palm olein, palm stearin, palm fatty acid distillate, palm kernel oil (crude and refined) and palm kernel cake.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
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