Newrest ASL Increases Dividend Payout by 11%

Newrest ASL Increases Dividend Payout by 11%

By Modupe Gbadeyanka
Last week, the board of Newrest ASL Nigeria Plc announced that it has recommended the payment of dividend to shareholders of the company.

In a notice to the Nigerian Stock Exchange (NSE), the board said it intends to reward the shareholders with 20 kobo per ordinary share for the 2018 financial year ended December 31, 2018.

Business Post reports that this proposed dividend payout is 11.11 percent higher than what was paid in the previous fiscal year, which was 18 kobo per share.

Newrest ASL Nigeria said closure date for the dividend is from April 29, 2019 to May 3, 2019, while the payment date is May 17, 2019, which is a day after its Annual General Meeting (AGM).

Recall that last month, at an Extraordinary General Meeting (EGM) held in Lagos, shareholders of Newrest ASL Nigeria Plc approved the delisting of the firm from the Nigerian Stock Exchange (NSE).

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