The Board of Directors of Flour Mills of Nigeria Plc has proposed a final dividend of N9.225 billion for the financial year ending March 31, 2023. This dividend represents N2.25 per unit of 50 Kobo ordinary shares for its shareholders for the financial year.
Here are some key points from the announcement:
Dividend Proposal: The company has proposed a dividend payout of N2.25 per unit of 50 Kobo ordinary shares for the financial year ending March 31, 2023.
Shareholder Approval: The dividend proposal is subject to shareholders’ approval. Shareholders will likely vote on this proposal during an upcoming general meeting.
Withholding Tax: The company mentions that appropriate withholding tax will be paid to shareholders. This means that a portion of the dividend will be withheld and paid directly to the tax authorities.
Payment Date: The company has scheduled the payment of dividends for November 10, 2023. Dividends will be paid electronically to shareholders whose names appear on the Register of Members as of October 13, 2023, provided they have completed the e-dividend registration and authorized the Registrars to pay their dividends directly into their bank accounts.
E-Dividend Registration: Shareholders who have not completed the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form from the Registrar’s website. This is necessary to ensure that dividends are paid directly to their bank accounts.
Unclaimed Dividend Warrants and Share Certificates: Shareholders with dividend warrants and share certificates that have remained unclaimed or have not been presented for payment or validation are also advised to complete the e-dividend registration or contact the Registrars. This is likely to help streamline the dividend payment process and ensure that shareholders receive their entitlements.
