By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Paint and chemical producers, Chemical and Allied Products Plc (CAP) said on Monday its profit after tax (PAT) climbed up 17.4 percent to N1.662 billion from N1.416 billion recorded a year earlier.

Also, profit before tax (PBT) increased with 17.1 percent to N2.442 billion from N2.086 billion reported in 2013 end.

Similarly, revenue grew from N6.195 billion in 2013 audited year to N6.987 billion in the review period of 2014; showing a growth of 12.8 percent, the company said in a filing with the Nigerian Stock Exchange (NSE).

However, CAP Nigeria cut its proposed dividend to investors of the company by 15 percent as it declared 85 kobo per share in 2014 audited year end compared to 100 kobo paid in 2013.

In its corporate action to the NSE, the paint maker say closure date for investors to benefit from the 85 kobo per share dividend is June 1 to June 5, 2015.

The company said annual general meeting (AGM) and payment date for the 85 kobo per share dividend is June 18 and June 19, 2015 respectively.