ABC set to give shareholders 3 Kobo dividend in 2009 Year End -Records 54.40% loss in Q2 of 2010


By Peter OBIORA investadvocate

Aug 19, 2010 16:22 GMT





Lagos–Associated Bus Company Plc (ABC) operating in the Road Transport sector of the Nigerian Stock Exchange is set to give shareholders of the company a 3 Kobo dividend payout in its Audited Year Ended December 2009 as it records 54.40 percent (54.40%) loss in Profit After Tax (PAT) in its Unaudited Half Year result June 2010.



This was contained in the Result Announcement made Thursday August 19 2010 on the Floor of the Nation’s Stock Exchange in Lagos Nigeria and made available to investadvocate.



However, a summary of the Financial Statement for the Audited Year End (December 2009) was not in the Result announcement made to the Exchange, except the Corporate Action of announcing a 3 Kobo dividend for year 2009.



The Corporate Action of the Transport Company for the year 2009 end affirmed that closure date for investors who are to benefit from the dividend payout is between September 01 to 06 2010 and no payment date announced yet.



Also, the Annual General Meeting (AGM) has been scheduled for September 10 2010 at the Concorde Hotels Limited, Owerri Imo State Nigeria.



In the same vein, ABC announced its Unaudited Half Year result June 2010, Profit and Loss information for the Quarter two (Q2) of the Transport firm showed that the company recorded a Profit After Tax (PAT) of N52.318 million in Q2 of year 2010 compared to N114.737 million in the same period of year 2009 indicating a loss of 54.40 percent (54.40%).


While Profit Before Tax (PBT) also declined from N159.357 million in Q2 of year 2009 to N41.232 million in same period of year 2010 representing a decline of 74.12 percent (74.12%).


However, Turnover for the review period grew from N1.977 billion in Q2 of year 2009 compared to N2.098 billion in the same period of year 2010 showing a growth of 6.12 percent (6.12%).



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