Cutix Plc posts 10 kobo dividend to shareholders

Adebayo Obajemu

The Board of Directors of Cutix Plc has given a proposal of a dividend of 10 kobo per share for consideration and approval by the shareholders at the Annual General Meeting. The total dividend payable, if approved by the shareholders, is N352.264 million and is subject to deduction of withholding tax at the rate applicable at the time of payment.

The company on Thursday came out with published audited report for the year ended 30, April 2022. The report signposts growth in the company’s topline and bottom line figures, year on year.

The Group reported a turnover of N7.87 billion for the 12 months period, up by 16.56% from N6.75 billion reported the previous year.

Profit after grew by 32.37% to N786.3 million from N594 million reported the previous year.

Earnings per share increased to 22 kobo from the EPS of 17 kobo.

At the share price of N2.25, the P/E ratio of Cutix Plc stands 10.08x with earnings yield of 9.92%.