May & Baker declares dividend payment of 30k to shareholders

May&Baker Plc has announced a dividend  payment of N0.30 kobo per 50 kobo ordinary shares for the financial year ended 31 December, 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 May 17, 2022.

On Friday, June 3rd, 2022, the dividend which amounts to N518 million will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Tuesday, May 17th 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 Veritas Registrars Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

May and Baker Plc has 1,725,234,886 outstanding shares and a market capitalisation of N7.59 billion at the time of filing this report. The company’s shares opened trading on 6th of May, 2022 at N4.40 per share and closed at N4.40 per share.

May and Baker Plc had recently released its Q1 2022 financial results for the period ended 31 March, 2022, reporting a profit of N195 million, representing a 21 per cent decline year on year.

Revenue of N3.34 billion was reported in the full-year period compared to N2.70 billion in the same period of 2021.

Earnings per share was recorded as N0.11 kobo against N0.14 kobo recorded in the corresponding period of 2021. Year-to-date, the company’s shares have appreciated by 9.45 per cent from N4.02 at the beginning of the year to N4.40 as at the time of writing this report.