Nigerian Stocks paying dividends in September
Hello people, still continuing with our stock watch, today we would be taking a look at Nigerian Companies scheduled to make dividend payment in the month of September. We would also take a look at the closure of register dates for the shares. Before we begin, let’s take a look at what closure of register means for companies. For those who do not know, closure of register is the period when a company will not handle adjustments to the register or requests to transfer shares. When dividend payments are fast approaching, companies set a date for the closure of registers to indicate to investors that any intending request to transfer shares should be made before the date else it would not be processed and dividends would be paid to the original shareholder (i.e. Owner of shares before sending the request). So effectively, the request is put on hold until the dividends are transferred.
The following are companies scheduled to make dividend payments in September 2017.
Redstar Express Plc.: Redstar Express declared a gross cash dividend of 40kobo / share for every 50 kobo share totaling N236 million, the closure of register date was 2nd – 4th August, and the dividend payment date is on the 7th of September 2017.
Flourmills of Nigeria Plc.: Flour mills of Nigeria Plc declared final dividend of 100 kobo per share with the closure of register date stated as 7th August – 11th August and dividend payment set for the 12th of September.
Stanbic IBTC Holdings: Stanbic IBTC is to confirm the dividend of 5kobo / share at its Annual General Meeting slated for September 12, 2017 and the medium it can be received, i.e cash payment or scrip dividends (ie receiving their dividend as additional ordinary shares in the company).
Guaranty Trust Bank: Guaranty trust bank declared 30kobo per 50 kobo ordinary share interim dividend. Closure of register date stated as 24th August 2017 and expected dividend payment is set for 5th September 2017.
Unity Kapital Assurance: Unity Kapital Assurance declared dividend of 5 kobo per 50 kobo share. The effective date for closure of register is set for 11th – 13th September while dividend payment is set for 15th September, a day after the AGM meeting.
Access Bank: Access bank also recently declared interim dividend of 25kobo per share following their impressive Half year result of N52billion profit. Their date for closure of register is set for 7th September 2017 while the dividend payment date is set for 21st September 2017.
University Press Plc: University press Plc declared dividend of 10 kobo per share, the date for closure of register is 4th – 8th September while the dividend payment date is 28th September 2017.
UBA Plc: UBA plc declared interim dividend of 20 kobo per share following from its impressive performance of N42.3 biliion half year PAT. UBA would be making dividend payment on the 11th of September 2017.