CAP Declares N2.03bn Dividend To Shareholders

Chemical and Allied Products Plc has declared a dividend of N2.90 per 50 kobo ordinary share to its shareholders for the 2018 financial year. The shareholders, at the company’s 54th Annual General Meeting in Lagos, endorsed the total dividend of N2.03bn for payment and commended the company for the efforts that had been put in place to drive increased return on investment. They said the company had been consistent in delivering results over the years. 

The acting Chairman, CAP Plc, Mr Solomon Aigbavboa, said despite the challenging operating environment in 2018, the company ended the year with an impressive performance. Aigbavboa, while assuring shareholders of steady growth in profitability and expansion, noted that the business recorded a sales turnover of N7.76bn, representing a growth of nine per cent over the previous year, while the operating profit grew by 15 per cent to N2.28bn.

(Punch)