Dangote Sugar Refinery proposes N18.22bn final dividend for 2020

Dangote Sugar proposes N18.22bn final dividend for 2020

Dangote Sugar Refinery Plc, a subsidiary of Dangote Group, has proposed a final dividend of N1.50 for its shareholders for the year ended December 31, 2020>

According to a corporate filling by the company obtained from the Nigerian Stock Exchange (NSE) by Business Metrics on Sunday, the final dividend to be paid for every share of 50K brings the aggregate to N18.22 billion based on the total 12,146,878,241 shares outstanding of the company.

In the corporate filling signed by Mrs. Temitope Hassan, the company secretary and legal adviser, the dividend is subject to appropriate withholding tax and approval.

According to the company with share price of N17 and market cap of N206.497 billion as at Friday March 19, 2020, conditions for the payment include that shareholders’ names appear in the Register of Members as at the close of business on the 17th day of March, 2021.

Payment Date

24-48hours after the Annual General Meeting, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at March 17, 2021 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

E-Dividend Registration

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars: www.veritasregistrars.com The E-Dividend mandate Form should please be completed and submitted to the Registrar or their respective Banks.

Unclaimed Dividend

Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

Date of General Meeting

The details of the 15th Annual General Meeting of Dangote Sugar Refinery PLC will be held on Tuesday May 18th, 2021. Attendance will be in line with the current guidelines.