By Peter OBIORA investadvocate

Nov 01 2010 16.00 GMT

Lagos (INVESTADVOCATE)-Multi-Trex Integrated Foods Plc (Multi-Trex) today Monday November 01 2010 listed by introduction at N3.00 and has projected to offer investors of the company a 15 Kobo dividend payout in year 2013.

 

Dimeji Owofemi, Vice Chairman/Chief Executive Officer (VC/CEO) of the company made this affirmation at the Nigerian Stock Exchange (NSE) in Lagos Nigeria.

 

“We are looking at paying 5 Kobo, 10 Kobo and 15 Kobo dividend to shareholders of the company for years 2011, 2012 and 2013 respectively” he said.

 

The VC/CEO affirmed that the dividend payout would translate to N186 million, N372 million and N558 million for years 2011, 2012 and 2013 respectively in the forecast period.

 

Meanwhile, following the listing of the company, it gained 15 Kobo as it opened at its listing price of N3.00 and closed at N3.15 Kobo.

 

Multi-Trex listed N11.2 billion worth of shares on The Exchange by listing 3,722,493,620 Ordinary Shares of 50 Kobo each at N3.00 per share.

 

Also, the Cocoa Processing firm will be going into the production of consumables in the first Quarter (Q1) of year 2011 and the ultra modern factory for the production of the consumables is expected to be commissioned Tuesday November 12 2010 by Goodluck Jonathan, President of the F ederal Republic of Nigeria (FRN).