47 firms distribute N321.457b dividend for 2014 | Independent Newspapers Limited
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47 firms distribute N321.457b dividend for 2014

Posted: Apr 13, 2015 at 1:38 am   /   by   /   comments (0)

By Andrew Airahuobhor


Latest data of filings at the Nigerian Stock Exchange (NSE) shows that 47 companies have so far offered or distributed a total of N321.457 billion as dividend to their shareholders at the end of their financial year ended December 31, 2014.

Most of the companies are those with January to December financial year.

The Nigerian Stock Exchange (NSE)

The Nigerian Stock Exchange (NSE)

A breakdown of the figure showed that the lion’s share of payout came from 10 financial institutions, which together recommended a total of N129.370 billion as payout. This was closely followed by four cement manufacturers, which cumulatively recommended N120.088 billion for distribution to their shareholders, followed by Nigerian Breweries, which is to distribute a total of N27.751 billion. Recommendation from two companies in the fast moving consumer goods sector- Nestle and Cadbury, cumulatively amounted to N15.092 billion. Also, four companies in the oil and gas sector recommended N8.915.338 billion.

In the Household sector with five companies, a total of N6.857 billion is recommended, while two companies in the property sector offered N4.423 billion, ahead of Chemical and Paints and Livestock sectors, recommended N812,367,585 and N438,471,500.00 respectively.

On individual company basis, Dangote Cement Plc, the biggest company on the bourse by market capitalisation, took the lead recommending a dividend of N102.243 billion for approval by shareholders at its coming annual general meeting. This represents a payout of N6.00 per share, as against N7.00 in 2013. It was followed by Zenith Bank with N54.943 billion, from a net profit of N94.24 billion for the period, and gross earnings of N278.52 billon, up from previous year’s N242.67 billion. The dividend payout represented per share figure of N1.75. It was followed by Guaranty Trust Bank which offered N44.146 billion dividend or N1.50 per share.

According to the results presented by the bank some weeks ago, GTBank reported N94.24 billion net profit from earnings income of N278.52 billon from N242.67 billion in December 2013. Access Bank offered N8.009 billion for distribution to holders of its 22.882 billion units at 35 kobo each; FCMB Holdings’ 25 kobo per share amounted to a gross of N4.95 billion; while at six kobo per share, Sterling Bank distributed a total of N1.727 billion. The 10 kobo each by United Bank of Africa and Diamond Bank, translated to N3.298 billion and N2.316 billion per share payout respectively. Shareholders of FBN Holdings got N3.263 billion or 10 kobo; Fidelity Bank, 18 kobo or N5.215 billion and Stanbic IBTC’s shareholders will get 15 kobo per share, representing a total payout of N1.5 billion. At the end of N1.10 per share for the year ended December 31, 2013, showing an increase of 10 per cent above the N1.00 paid the previous year. The 2014 full-year payout by FBN Holdings was a far cry from the N1.10 per share of N35.895 billion distributed in the corresponding period of 2013 when it earned a total of N395.9 billion.

Also in the building materials sector, besides Dangote Cement, Lafarge Cement paid out N16.397 billion or N3.60 per share; far ahead of its sister company in the Lafarge Africa group- Ashaka Cement, whose shareholders got N1.007 billion or 45 kobo; followed by the 35 kobo or N439.837 million recommended for payment by directors of Cement Company of Northern Nigeria.

In the oil and gas sector of the NSE, shareholders of Forte Oil, which is into petroleum products marketing and electricity generation company, are to get N2.50 each or N3.256 billion; ahead of Total Nigeria’s N3.055 billion or N9.00 per share, down from previous year’s N11 each; and Mobil Oil Nigeria’s N2.376 billion or N6.60 each; while MRS Oil is to distribute N223.51 million or 88 kobo.

However, Nestle paid the highest dividend per share at N17.50 per unit or N13.871 billion, just as Cadbury paid out N1.22 billion or 65 kobo each.

Other company’s that recommended dividend payment so far include: African Prudential Registrar, 35 kobo or N700 million; Transcorp, Hotels, 37 kobo or N2.812 billion; PZ Cussons shareholders are to  get 20 kobo, which translates to N794.095 million payout Custodian and Allied Insurance recommended a total of N705.823 million or 12 kobo per unit.