Flour Mills of Nigeria grows profit by 5.32% in Q1, 2023

Foods and Agro Allied company, Flour Mills of Nigeria Plc, grew its profit by 5.32 percent to N29.504 billion at the end of the financial period, March 2023, from N 28,015 billion recorded in the same period in 2022.

This was revealed in Flour Mills announcement to the Nigerian Exchange Limited (NGX).

According to the announcement, the Board of Directors of Flour Mills of Nigeria Plc also proposed a final dividend of N9.225 billion for the financial year ending March 31, 2023

This represents a dividend of N2.25 per unit of 50 Kobo ordinary shares for its shareholders for the financial year.

According to the company, the dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday, 13th October 2023.

According to the statement signed by the company, on 10th November 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of 13th October 2023 and who have completed the e-dividend registration and mandated the Registrars 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 also available on the website of the Registrars.

Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrars.