By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Pasta makers Honeywell Flour Mills Plc on Tuesday announced a 6.25 percent increase in its 2014 dividend payment to shareholders as it has proposed 17 kobo per share compared to 16 kobo paid the previous year.

Honeywell announced shareholders on its books by September 12, 2014 will benefit from the dividend payment after its annual general meeting (AGM) scheduled for September 16. The pasta maker said payment date for the 17 kobo dividend is September 17, 2014.

Share price of the company at the close business dropped 1 kobo to N4.18 from N4.19; showing a decline of 0.24 percent.