Lafarge Africa Plc
For growing worth on funding by dividend payout, shareholders of Lafarge Africa Plc, has counseled the board for its 2017 efficiency, as they approve a whole N13.01billion dividend.
The dividend of N1.50 kobo per share paid represents 45kobo improve in comparison with the N1.05kobo dividend declared for the 2016 monetary yr.
Speaking on behalf of the shareholders on the Lafarge 2017 yearly basic assembly in Lagos, on Wednesday, the National Chairman, New Dimension Shareholders Association, Patrick Ajudua, additionally counseled administration for the success of the just-concluded rights concern.
He urged the corporate to make sure that the subsidiary contributes to the bottom-line, to allow it consolidate on the efficiency and enhance liquidity.
Reviewing its efficiency, the Chairman, Mobolaji Balogun, stated the dividend payout is in appreciation of the assist proven by the shareholders up to now and a worthy return on their investments.
“The Board of Directors is mindful of the support of all our shareholders through the difficult but necessary journey to transform the company into a more agile and correctly financed business ready to benefit from the potential opportunities in Nigerian building materials (market),” Balogun stated.
He additionally assured shareholders that restructuring Lafarge capital construction is basically accomplished by the previous yr, and would assist to considerably scale back the price of ficing and forex translation danger.
Balogun also said that the corporate’s latest N131.6billion rights concern, the biggest ever Rights Issue in Nigeria, which was additionally absolutely subscribed, helped to considerably scale back the FX debt publicity by 50 per cent, and the Board of Directors is already reviewing choices to take care of the remaining FX debt.