By investadvocate

Lagos (INVESTADVOCATE)-Dangote Sugar Refinery Plc has proposed to pay investors of the Company a 60 Kobo dividend payout for the year 2010 Financial Year End (FYE).

This was contained in the Result Announcement for the Audited Year Ended December 31 2010 of the Sugar Refinery Company made available to the Nigerian Stock exchange (NSE) Tuesday April 19 2011 in Lagos Nigeria.

Dangote Sugar said in its Corporate Action to the Exchange that closure date of Register of shareholders whose name appear on the their record is Wednesday May 04 to Friday May 06 2011; while payment date has been scheduled for Wednesday May 25 2011; after its Annual General Meeting (AGM) to be held on Tuesday May 17 2011 at the Ladi Kwali Hall Sheraton Hotels & Towers Abuja Nigeria.

A review of the Profit and Loss information made available to the NSE, shows that Profit After Tax (PAT) of Dangote Sugar declined from N13.185 billion in year 2009 to N11.282 billion in the Audited Report for the Period Ended December 31 2010; showing a decline of -14.43%.

While Profit Before Tax (PBT) also dipped from N19.568 billion in year 2009 compared to N16.147 billion in year 2010, representing a dip of -17.56% in the review period.

However, Turnover increased from N82.395 billion in year 2009 to N89.980 billion in year 2010 end; indicating an increase of 9.21%.