May & Baker Nigeria Plc has announced a dividend payout of 40 kobo per share for the financial year ending 31 December 2024.
The pharmaceutical company made this known in a regulatory filing submitted to the Nigerian Exchange Limited during the week.
According to the statement, the audited financial results for the period were approved by the company’s Board of Directors at a meeting held on 27 March 2025, and will be presented at the upcoming Annual General Meeting (AGM).
“A dividend of 40 kobo per share, subject to shareholders’ approval and the applicable withholding tax, will be disbursed to shareholders whose names are listed in the Register of Members as at the close of business on Tuesday, 20 May 2025,” the disclosure noted.
The dividend is expected to be paid electronically on 5 June 2025.
The company has scheduled its AGM for Thursday, 5 June, at the Muson Centre in Onikan, Lagos. The meeting is set to commence at 11:00 a.m.
In other developments, May & Baker confirmed the retirement of Dr Edugie Abebe as a non-executive director. Her departure from the board took effect from 13 March 2025, following 12 years of service.
The company has also announced the appointment of Mr Osagie Omenai as an independent non-executive director. His appointment, which took effect from 27 March, will be formally confirmed by shareholders at the AGM.