Punch Newspapers
Sections
Published 7 June 2021
Shareholders of May & Baker Nigeria Plc have approved a dividend of 30 kobo for every 50 kobo share recommended by the company’s board of directors for the 2020 financial year.
The dividend, which amounts to N517.6m, was approved at the company’s 70th Annual General Meeting in Lagos, according to a statement on Sunday.
The Chairman, Board of Directors, Senator Daisy Danjuma, was quoted as saying at the AGM that she was glad that the company recorded growth in both turnover and profit, despite the challenging operating environment in the business year under review.
The company reported a 16 per cent growth in revenue from N8bn in 2019 to N9.4bn in 2020 and a gross profit growth of 30 per cent from N2.9bn to N3.8bn.