By Opeyemi Issa InvestAdvocate
Lagos (INVESTADVOCATE)- Paints & Coatings Manufacturers Nigeria Plc (PCMN) Wednesday proposed to reward investors of the Company with an N0.08 Kobo dividend payout for the Audited Year Ended December 31 2011 released to the Nigerian Stock Exchange (NSE) in Lagos Nigeria.
The N0.08 proposed dividend is an increase of 33.33 percent (33.33%) for the 2011 end when compared to the N0.06 paid in 2010 end.
According to PCMN, closure date of Register of Members whose name appears on the Company’s Register is 29th-30th March 2012; while payment date has been scheduled for June 15 2012 after the its Annual General Meeting (AGM) to be held May 15 2012.
An analysis of the Audited Year Ended Results of the Company for year 2011 shows that Profit After Tax (PAT) grew from N106.668 million in year 2010 end to N122.969 million in 2011; indicating a growth of 15.3% in the review period.
Profit Before Tax (PBT) also increased from N108.606 million in 2010 end to N122.969 million in the review period of 2011; showing an increase of 13.2%.
Turnover also increased from N1.257 billion in the Audited Year End of 2010 to N1.788 billion in year 2011 end; representing an increase of 42.2%.
In the same vein, First Aluminum Nigeria Plc recorded a 2.9% growth in its PAT as the Company recorded a negative N325.044 million in year 2011 end compared to N344.586 million in year 2010 end.
Also, the Company posted a negative PBT of N278.223 million in year 2011 end compared to N298.070 million in year 2010 end; representing 6.65% in the review period.
Turnover was N8.790 billion in 2011 end compared to N8.760 billion in year 2010; indicating a change of 0.34% in the review period.
From its Corporate Actions to the Nigeria’s Exchange, First Aluminum said closure date of Register of shareholders whose names appear on its records is May 28-June 01 2012 and its AGM has been scheduled for June 17 2012 in Lagos Nigeria.
