CAP Plc, a subsidiary of UAC of Nigeria Plc, has rewarded its shareholders with a dividend of N1.575bn for the 2013 financial year following what it said was a positive performance.

The company’s shareholders approved the dividend, which translates into 100 kobo for every 50 kobo ordinary share, on Thursday at its annual general meeting, which was held in Lagos.

The Chairman of CAP Plc, Mr. Larry Ettah, informed the shareholders that the company was able to overcome a challenging environment to boost its returns.

He said, “The company recorded a turnover of N6.2bn, a growth of 18 per cent over the previous year and a profit before tax of N2.1bn, which represents an increase of 26 per cent over the previous year.”

Ettah explained that it was as a result of the performance that the board recommended the dividend.

He added, “This is in addition to the interim dividend of 125 kobo per share paid on November 19, 2013. This brings the total Dividend for 2013 financial year to N1.575bn, representing 225 kobo per share.”

On the operations of the company in 2013, the CAP Plc chairman said, “We expanded our spread during the year with the opening of eight new Dulux colour shops in Umuahia, Dopemu, Akure, Jigawa, Abuja, Katsina, Aba and Ughelli.

“We successfully executed the Dulux Mobile Room Makeover, an innovative marketing campaign in the Nigerian clime, to the delight of our teeming consumers.”

He added that the company commenced ink jet coding of its product packages in 2013, making adulteration of the product more difficult.

Ettah promised the shareholders that the board and management of the firm would ensure that its products continue to meet global quality standards; “hence it retained the NIS ISO 9001: 2008 certification of the Standards Organisation of Nigeria.”

Punch