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CAP Approves Dividend of N392 Million for Shareholders

Following the remarkable performance of the Chemical and Allied Products (CAP) Plc, the board has recommended a final dividend of  N392 million(70 kobo) in addition to the interim dividend of 125 kobo, bringing the total dividend for 2012 financial year to N1.092 billion, representing N1.95 per share.

The Chairman of the CAP Plc, Mr. Larry Ettah, who announced this at the Annual General Meeting of the company in Lagos last Monday, said the interim dividend policy would be retained.

He noted that shareholders will continue to receive dividends twice every year following the assurance that the company would retain its dividend policy in that regard.

Reviewing the financial performance of the company, Ettah said the firm recorded a turnover of N5.23 billion, up by 21 per cent over N4.31 billion achieved in 2011. Profit after tax rose from N1.04 billion to N1.12 billion.

According to the chairman, the company would focus on strategic investments in the coming years to further grow its business and embark on cost reduction and business expansion initiatives to ensure increased profitability in the next financial year.

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