Presco to pay Nigerian shareholders $18m in 2023 dividends

AFRICAN STOCKS AND FINANCEMay 12, 2024 at 4:13 PM UTC

TLDR

Presco Plc declares total dividend payout of N26.3 billion ($18 million) for FY 2023, an impressive 199% growth from 2022.
Shareholders to receive dividend of N26.3 kobo per share, comprised of interim and final dividends declared during the year.
Presco Plc's strong financial performance and shareholder commitment highlighted through substantial dividend increase.

Presco Plc's shareholders are set to receive a total dividend payout of N26.3 billion ($18 million) for the fiscal year ending December 2023. This translates to a dividend of N26.3 kobo per share, as declared by the company's Board of Directors.

During the year under review, the Board distributed an interim dividend of N2.00 per 50 kobo share. Additionally, at the company's Annual General Meeting (AGM), a final dividend of N24.30 per share was recommended.

This total dividend payout reflects an impressive growth of 199% compared to the N8.800 billion disbursed by the company in 2022. The significant increase underscores Presco Plc's strong financial performance and commitment to rewarding its shareholders for their investment in the company.

Key Takeaways

Dividends are important in stock investing because they give shareholders a steady source of extra money. Large corporations that make a lot of money and have stable finances usually pay significant dividends. Investing in these companies can benefit in two ways: your shares can become more valuable over time, and you get regular dividend payouts.

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