Harvest season for shareholders

Despite the volatile nature of the market last month, which happened to be the biggest monthly decline due to panic sell-offs, a number of companies closed in June by rewarding their shareholders with dividend, and bonuses. No doubt, third quarter of this year is harvest time for investors that have taken position in these organizations.We begin with Alhaji Aliko Dangote-led Dangote Sugar Refinery’s (DSR) result in its year ended December 31, 2009 financial scorecard, the company recorded 2.14 per cent growth in turnover and 39.71 per cent decrease in post tax profit. The Board of Directors has recommended a final dividend of N1 per share to cap off the 30 kobo (interim) declared in September last year. The payment date is on July 30, 2010, while closure of registers is on July 14, 2010; Annual General Meeting (AGM) is July 27, in Kano.A breakdown of the audited account shows a turnover of N82.395 billion against N80.671 billion in 2008. Profit before tax (PBT) was N19.586 billion compared with N30.151 billion it recorded in 2008. taxation stood at N6.401 billion against N8.280 billion in 2008. The company profit after tax (PAT) stood at N13.185 billion against N21.871 billion.However, Dangote Sugar Refinery also released its unaudited earnings for the period ended March 31, 2010; the report shows gross earnings of N22.787 billion against N19.107 billion in 2009. PBT stood at N5.839 billion against N5.591 billion in 2009. Taxation paid was N3.971 billion against N4.193 billion in 2009 financial year.Dangote Sugar was incorporated on January 4, 2005 and got listed on the floor of Nigerian Stock Exchange (NSE) on March 8, 2007; the company is into refining of raw sugar into edible sugar and sales of refined sugar. The company operates under the food and beverages and tobacco segment of the market. Their shareholding structure shows that Dangote Industries Limited has 69 per cent, while Nigerian citizens and associations hold 31 percent of the company shares.Chief Oba Otudeko-led Honeywell Flourmills Plc’s result was much better, even though the stock lost maximum point after the close of session. Turnover increased by 17.31 per cent while PAT surged by 441.47 per cent, in addition to a final dividend of 11 kobo. Closure date is August 25 while payment is from September 21st. AGM comes up on September 2.Other highlights of Honeywell Flour Mills, audited year report for the period ended March 31, 2010, shows a turnover of N33.528 billion against N28.580 billion in 2009 financial account. PBT grew to N2.330 billion compared with N687.152 million. PAT stood at N1.175 million against N217.115 million in 2009 audited earnings.Portland Paints Plc, one of the new comers in the market released it full year financial numbers, showing 15.6 per cent increase in turnover. PBT grew by 9.7 per cent while PAT slid by 2.48 per cent. The Board of Directors is recommending a dividend per share of 12 kobo, with closure date being August 28 while payment starts September 23, 2010. The audited report for the period ended December 31, 2009, shows a turnover of N2.269 billion against N1.963 billion in 2008. PBT and extraordinary items stood at N205.989 million against N187.763 million in 2008. Taxation stood at N66.569 million against N97.378 million in 2008. PAT stood at N183.100 million against N187.763 in 2008. The AGM comes up in Lagos. Activities in the insurance sector of the market got a boost as the board of Prestige Assurance PLC announced a dividend of N10 kobo per share. Closure date is fixed for July 20, while payment is from August 2, this year. University Press Plc, one of the major players in the publishing business delighted their shareholders with a 40kobo dividend and 1 for 5 bonuses in its financial account for the period ended December 31, 2009. Investors are expected to be paid on September 30, 2010, which is also the day for their AGM. The register of members’ closure date is yet to be announced. Trans-nationwide Express Plc did not disappoint their shareholders as they also join other companies in reward party. The company has proposed 50kobo in their audited financial report for the period ended December 31, 2009. Payment date is August 31, 2010, while the register of members closes on August 6, 2010, the AGM is on August 18, in Lagos. To strengthen the company, Hon, Aliye Ahman- Pategi has been appointed as a director . Hon Pategi, who is representing Edu Moro Pategi federal constituency of Kwara State at the House of Representatives, He has also worked in several other places including Ahman Pategi Properties Limited, Platform Nigeria Limited, Ahman Pategi Farm Limited and Alma Procurement Limited. Finally Red Star Express Plc later joined the other companies with a dividend of 30kobo in their financial account for the period ended December 31, 2009. Payment date is August 31, while the register of members closes on August 10.