May & Baker declares 25 kobo dividend to shareholders, grow profit by 22.43% in FY’19

Adebayo Obajemu

May & Baker in its published Full Year 2019 report on Tuesday declared 25 kobo dividend to its shareholders. According to the report, the 25 kobo dividend amounted to N431,308,721 for the year 2019.

In the audited financial Statement for the year ended, 31 December, 2019, May & Baker reported a turnover of N8.08 billion, down by 5.52% when compared to the turnover of N8.55 billion reported in 2018 year end.

Profit before tax rose by 10.15% to N900.9 million from N817.9 in 2018.

Profit after tax grew by 22.43% to settle at N716.4 million from N585.2 million reported in FY’18.

The earnings per share (EPS) of May & Baker for the period under review stands at 42 kobo, up by 22.43% when compared with the EPS of 34 kobo reported in 2018.

With reference to the share price of N2.68, the P.E ratio of May & Baker is calculated as 6.45x with earnings yield of 15.50%.