By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Roads Nigeria Plc operating in the Construction Sector of the Nigerian Stock Exchange (NSE) is set to reward investors of the Company with a 50 Kobo dividend payment for the Audited Year Ended March 31 2011.
This was contained in the Audited Year Ended March 31 2011 released Thursday August 25 at the Nigeria’s Exchange and made available to InvestAdvocate in Lagos Nigeria.
The last time shareholders of the Company enjoyed dividend payout was in year 2009 end; when it paid a 45 Kobo per share dividend, while in year 2009 Audited Year End, the firm declared no dividend.
Roads Nigeria affirmed in its Corporate Action that closure date for investors whose names appears on the Company’s Register is 14th to 28th September 2011 and payment date has been scheduled for October 05 2011.
The Company has also announced its Annual General Meeting (AGM) will hold on September 28 2011 at the Dankani Guest Palace Hotel in Sokoto Nigeria.
A review of the Audited Year Ended March 2011 result of Roads Nigeria; shows that Profit After Tax (PAT) declined from N80.208 million in year 2010 to N73.197 million in the review period; showing a decline in Profit of 8.7 percent (-8.7%).
Profit before Tax (PBT) increased slightly with 1.2% as Roads Nigeria recorded N121.972 million in year 2011 end from N120.552 million in year 2010.
While Turnover also dipped from N3.837 billion in year 2010 end to N3.614 billion in the Audited Year Ended March 2011; indicating a dip of -5.8%.
