Red Star Express Plc (NGX: REDSTAREX) has announced a final dividend of 15 kobo per 50 kobo ordinary share for the financial year ended 31 March, 2023.
Also read; List of Dividends announced in 2023, qualification and payment dates
Red Star Express Plc at the time of this report is yet to released its annual financial statements for the year. In 2022, it reported a profit after tax of N87.80 million and paid a dividend of 7.5 kobo per ordinary share.
With its share price at N3.15, it puts the company’s dividend yield on the day of announcement at 4.76%.
The qualification date of the 2023 dividend has been set at 18th August, 2023. On Friday 15th September, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Friday, 18th August 2023, 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 available on their website. The company’s registrars are Apel Capital Registrars Limited.
Red Star Express will hold its Annual General Meeting on Thursday, 14th September, 2023 at 11.00am.
About the Company
Red Star Express Plc (the Company) was incorporated as a Private Limited Liability Company on 10 July 1992 and commenced business on 12 October 1992.
Its shares were admitted to the official list of the Nigerian Stock Exchange on 14 November 2007. 18.56% of the issued share capital of the Company is held by Koguna Mohammed, Hassan and 81.44% by other Nigerians.
The registered office is located at 70 International Airport Road, Lagos, Nigeria. The company has three (3) subsidiaries; Red Star Freight Limited, Red Star Logistics Limited and Red Star Support Services Limited.
The Group is principally engaged in the provision of courier services, mail management services, freight services, logistics, ware housing and general haulage.
Investogist reported in December 2022, that Red Star Express had been the Licensee of FedEx in Nigeria since 1994 under the Global Service Participant (GSP) Model transitioned to a National Network Provider (NNP) Model, following FedEx’s establishment of a direct presence in Nigeria.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
