By Richard ABANGWU InvestAdvocate

Lagos (INVESTADVOCATE)-Shareholders of Lafarge Wapco Cement Nigeria Plc are to enjoy a 60 percent (60%) rise in dividend payout for the 2012 Audited Year End.

From the declaration of dividend from the Company released to the Nigerian Stock Exchange (NSE) Tuesday, and made available to InvestAdvocate, Shareholders of the Cement Company will go home with N1.20 dividend payout in the review period.

To declare a 60% dividend increment, Wapco in year 2011 end paid a dividend of 75 Kobo compared to the current N1.20 Kobo being proposed by its Board of Directors (BODs).

In review of the Company’s dividend payment, Analysts at INVESTMENT ONE Financial Services say at N73.99 Market Price, the N1.20 dividend declared translates to 1.62% dividend yield.

According to them, Market initial reaction was slightly neutral at the time of release.

While proposed dividend yield for 2012 Financial Year End (FYE) stands at 2.74%, relative to 2011 FYE, “dividend yield of 5.45% is a less impressive performance’ the Analysts affirmed.

According to the INVESTMENT ONE Analysts, investor reaction to the share price was unchanged and the price of Wapco’s shares remained at N47.51 same as at last trading session.

On its Corporate Action to the Nigeria’s Exchange Wapco said Qualification Date has been scheduled for May 03 2013; while closure of Register of shareholders in its Record who would benefit from the dividend payout is 06 to 10 May 2013 and payment date has been scheduled for May 30 2013; after the Company’s Annual General Meeting (AGM) to be held on the same May 28 2013.

(Reporting by Richard ABANWGU, editing by Peter OBIORA)