Flour Mills declares dividend payment of N2.15k to shareholders

Flour Mills Nigeria Plc has announced a dividend payment of N2.15 kobo per 50 kobo ordinary shares for the financial year ended 31st March 2021.

This dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

According to the disclosure filed with the Exchange (NGX), shareholders are to ensure their names are registered in the Register of Members by the qualification date of August 12, 2022.

On Thursday, September 8th, 2022, the dividend which amounts to N8.82 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as of Friday, August 12th 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is Atlas Registrars Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

Flour Mills Plc has 4,100,379,605 outstanding shares and a market capitalisation of N143.51 billion at the time of filing this report. The company’s shares opened trading on the 15th of June, 2022 at N35.00 per share and closed at N35.00 per share.

Flour Mills Plc announced a dividend payment of N2.15 kobo per 50 kobo ordinary shares for the financial year ended March 31, 2021.It had released its FY 2021 financial results for the period ended 31 March 2021, reporting a profit of N39.22 billion, representing a 5.00 per cent growth year on year.

Revenue of N1.16 trillion was reported in the full-year period compared to N771.61 billion in the same period of 2020.

Earnings per share was recorded as N6.26 kobo against N6.38 kobo recorded in the corresponding period of 2020.

Year-to-date, the company’s shares have appreciated by 23.46 per cent from N28.35 at the beginning of the year to N35.00 as at the time of writing this report.