By InvestAdvocate

Lagos (INVESTADVOCATE)-UACN Property Development Company Plc Monday proposed a 65 Kobo dividend to shareholders of the Company in 2011 end.

The Firm in its Corporate Action to the Nigerian Stock Exchange (NSE) in Lagos Nigeria said qualification date for shareholders to benefit from the 65 Kobo dividend payout is April 16 2012 and closure date of Register of investors whose names appear on the Company’s Record is April 17 -24 2012.

Also, UACN Property affirmed that Payment date is May 16 2012 after its Annual General Meeting (AGM) May 15 2012 to be held in Lagos Nigeria.

UACN Property in the review period posted a Profit After Tax (PAT) of N2.278 billion in year 2010 end compared to N1.999 billion in year 2010 end; indicating a decrease of 12.2 percent (12.2%) in the review period.

Profit Before Tax (PBT), however increased slightly from N2.538 billion in 2010 end compared to N2.718 billion in the review period of year 2011; indicating an increase of 7.1%.

While Turnover increased from N8.194 billion in 2010 end compared to N10.754 billion in 2011; representing an increase of 31.2%.

Similarly, UACN of Nigeria has proposed to reward shareholders with a N1.50 dividend in the 2011 Audited Year End.

The Firm in its Corporate Actions to the Nigeria’s Exchange said Qualification date is May 18 2012; while closure of Register is May 21-25 2012.

AGM date is June 20 2012 and payment date is June 21 2012.

A review at the Company’s performance shows that PAT grow by 87.2% as the Company posted N5.450 billion in 2010 end compared to N10.202 billion in the review period of year 2011.

PBT also increased from N7.093 billion in year 2010 end compared to N12.983 billion in 2011; representing an increase of 83.0%.

Turnover also grew from NN52.313 billion in year 2010 to N63.558 billion in year 2011; showing a growth of 21.6%.

Also, Beta Glass Plc said it will reward shareholders of the Company with a 40 Kobo dividend payout for the Audited Report for the Period Ended December 31 2011.

The Company has scheduled its Qualification date for April 27 2012; while Closure Date of Register of shareholder whose names appears on the Company’s Record is April 30 to May 04 2012.

Also, AGM date has been scheduled for May 30 2012 and payment date is July 09 2012.

PAT increased by 5.0% in the review period as Beta Glass posted N1.472 billion in 2010 end compared to N1.545 billion in year 2011.

Beta Glass recorded a Turnover of 14.0%, the Company in year 2010 end posted N11.168 billion compared to N12.726 billion in the review period of year 2011.