Results & Dividends

Honeywell Flourmills Cuts Dividend by 70.58% Proposes 5 Kobo per Share

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By InvestAdvocate

Lagos (INVESTADVOCATE) –Honeywell Flour Mills Plc said on Tuesday it has cut its dividend payout to investors of the company for the 2015 audited year end by 70.58 percent to 0.5 kobo from 17 kobo per share paid a year earlier.

The company says closure date has been scheduled for September 14-18, 2015, while Annual General Meeting (AGM) has been scheduled for September 24 and 25, 2015 respectively.

A review of the financial year ended March 31, 2015 of the Fast Consumer Moving Goods (FCMG) firm shows that pretax profit dipped to N1.43 billion down 66 percent from a year earlier.

Also, revenue depreciated by 10.9 percent to N49.06 billion, Honeywell Flour Mills said in a filing with the Nigerian Stock Exchange (NSE).

 

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