Red Star Express
Red Star Express haulage truck

Adebayo Obajemu

The Board of Directors of Red Star Express has proposed a final dividend of 5 kobo to shareholders whose name appear on the Register of Members as at the close of business on Friday, 3rd September 2021. A bonus of 1 new share was also proposed for every 33 ordinary shares held as at the close of business on Friday, 3rd September 2021.

The Audited Financial Statement of Red Star Express Plc for the year ended 31 March 2021 was published on Wednesday.

A turnover of N9.46 billion was reported, down by 10.34% from N10.55 billion reported the previous year.

Profit after tax for the period under review was N150.065 million, down by 68% from N468.99 million reported the previous year.

Earnings per share decreased to 16 kobo form the EPS of 51 kobo, which translates to 68% decline, year on year.

At the share price of N3.67, the P.E ratio of Red Star Express stands at 22.66x with earnings yield of 4.41%.

Closure of Register for proposed dividend is on the 6th September 2021 and payment date is September 23, 2021.