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Drug-maker Fidson plans N1 billion dividend, bonus shares for shareholders

Fidson Healthcare is to pay shareholders over N1 billion in dividend and also issue them one new share for every 10 they own in the company, both representing the planned compensation for holders of its common stock for the financial year 2021.

The cash reward proposal enables shareholders to get a dividend of N0.50 per share, with qualification date for it as well as the scrip issue set for July 8, the pharmaceutical firm said on Friday in a note to the Nigerian Exchange Limited.

Fidson will have doled out 208.6 million new shares when the settlement of the bonus issue is done and dusted.

Surprisingly, Fidson’s share price fell by 2.4 per cent in Lagos following the news.

Fidelis A. Ayebae, managing director Fidson Healthcare

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Fidelis A. Ayebae, managing director Fidson Healthcare

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Fidelis A. Ayebae, managing director Fidson Healthcare

The proposed payout surpasses that of 2020 by twofold and marks the culmination of a particularly fruitful year for Fidson, when after-tax profit rocketed by 208 per cent to N3.7 billion and turnover by nearly 70 per cent to N30.9 billion.

In preparation for paying the cash and issuing the bonus shares, “the register of shareholders will be closed from 11th July, 2022 to 15th July, 2022 both days inclusive,” according to the document seen by PREMIUM TIMES.

Payment is due on 29th July and will be conducted electronically in favour of stockholders whose names feature on the company’s register of members as of 8th July.

They will be eligible to receive the dividend on the condition that they fill in their e-dividend mandate form and transmit same to the registrar, Meristem Registrars and Probate Services Limited.

In a separate note on Friday, the drug-maker announced July 28 as the date for its 23rd annual general meeting, during which a review of its audited account for last year will be done in the full glare of shareholders and the investing public.

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Content contributor at AFAL [African Alert]. Kevin is a passionate copywriter who is searching for fresh content every day.

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