Flour Mills declares N1.65 dividend to shareholders, grows PAT by 126%

Adebayo Obajemu

Flour Mills of Nigeria on Tuesday published its Audited Financial Statement for the year ended 31 March 2021. The result shows growth in the company’s top line and bottom line figures.

Flour Mills for the 12 months period reported a turnover of reported a turnover of N771.608 billion, up by 34.48% from N573.774 billion reported the previous year.

Profit after tax grew year on year by 126.05% to N25.717 billion from N11.377 billion reported the previous year.

Earnings per share significantly increased to N6.27 from the EPS of N2.77 achieved the previous year.

At the share price of N29.05, the P.E ratio of Flour Mills Nigeria stands at 4.63x with earnings yield of 21.59%.

The Board of Directors of Flour Mills proposed a dividend of N1.65 to its shareholders amounting to N6.77 billion. The dividend pay-out of N1.65 for the period under review shows 17.86% growth from N1.40 dividend declared in 2020 year end. At the share price of N29.05, dividend yield of Flour Mills stands at 5.68