Corporate Actions Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impacts on the firms themselves or shareholders.
Examples of corporate actions include the release of quarterly and full year results, payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.
Here is a review of corporate actions that took place last week, Less Sugar
Dangote Sugar released its full-year 2018 results. Topline and bottom line dipped significantly.
Management blamed this on smuggled sugar, the logjam at Apapa, and to a minor extent communal crisis.
The company has declared a final dividend of N1.10 per share, N0.65 lower than the N1.75 paid in 2017. Fidson Healthcare Plc
Fidson Healthcare Plc released its results for the 2018 financial year. The company also held a “Facts behind the figures” session at the Nigerian Stock Exchange (NSE). Management attributed the N97.4 million loss to high operating and finance costs. Cheers at May
May and Baker Plc also released its full-year 2018 results. The company made a profit after tax of N342 million and declared a dividend of N0.20 per share. Qualification date is the 19th of April, 2019.
Multi-millionaire transporter Samuel Onyishi has also taken a stake in the firm and is now one of the largest individual shareholders. Secure losses continue
Secure Electronic Technology Plc released its Q1 2019 results. The company remains loss-making with a loss after tax of N21.8 million. In 2018, it recorded a full year loss after tax of N152 million. More losses at Morrison
Morrison Industries Plc released its full-year 2018 results. Turnover decreased while the company recorded a loss for the fifth consecutive year. Delayed results Several firms issued notices that they would be delaying the release of their full-year audited financial statements which should have been due March 31st, 2019, as well as Q1 2019 results. Cornerstone Insurance , in its notice to the NSE, stated that it would file its 2018 audited results on or before 30th of June 2019. As such, the release of its results for the first quarter ended March 2019 would also be delayed. Daar C ommunications , in its notice, stated that the delay behind the filing of its full-year 2018 results was due to the request of its external auditors to review the company’s trade receivables, in line with IFRS 15. First A […]
