By Chinwendu Obienyi
The Board and Management of Julius Berger Nigeria Plc has proposed a total final dividend of N634 million to shareholders of the company for the period ended December 31, 2020.
The company which made this announcement in a notification published on the website of the Nigerian Stock Exchange (NSE), stated that a dividend of 40 kobo per share will be paid on all the 1,584,000,000 ordinary shares of the company.
In addition to the cash payment of 40 kobo per share, shareholders will also be issued a bonus of 1 new share for every 99 existing shares held in the company. However, only shareholders whose names appear in the Register of Members at the close of business on May 28, 2021 will be considered.
The Company stated that qualifying shareholders must have completed the e-dividend registration and must have mandated the Registrar (GTL Registrars) to pay their dividends directly into their bank accounts.
“For the purpose of the dividend payment, the Register of Shareholders will be closed from 31st of May 2021 to 2nd June 2021, to enable the registrar to process shareholders’ dividends”, it said.
Last year, Julius Berger Plc paid shareholders a dividend of N2 per share on all the issued shares of the Company. This is five times the dividend it is set to pay on each of its issued shares this year.
In 2019 also, the Company in addition to the cash dividend, proposed one new ordinary share for every 5 existing ordinary shares held by shareholders.
Shares in Julius Berger Plc as of the close of the market on April1, 2021 are currently worth N20 per share. At this price, the dividend yield of the company shares is currently pegged at 2 per cent while its market capitalisation is valued at about N31.7 billion.