By InvestAdvocate

Lagos (INVESTADVOCATE)-Agro-allied firm, Okomu Oil Palm Company Plc said on Wednesday its post-tax profit for the financial year ended December 31, 2014 dipped 25.8 percent to N1.553 billion from N2.092 billion recorded a year earlier.

Pretax profit also declined by 21 percent to N2.127 billion from N2.693 billion reported in the corresponding period of 2013.

Similarly, revenue dropped marginally from N8.860 billion in the 2013 year end to N8.655 billion in the review period of 2014; showing a decline of 2.3 percent, the company said in a filing with the Nigerian Stock Exchange (NSE).

Okomu Oil also declared a dividend of 0.25 kobo per share to investors of the company compared to 100 kobo paid in 2013 audited year end; representing a cut in dividend of 48 percent.

The company says in its corporate action that closure date is May 18 to May 22, 2015, while payment date has been scheduled for June 29, 2015.