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Neimeth proposes 6.5kobo dividend to shareholders

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Neimeth sources N3.68bn via Rights Issue, to allot 2.37bn bonus shares

Adebayo Obajemu

The Board of Neimeth International Pharmaceuticals has proposed a final dividend of 6.5kobo dividend to its esteemed shareholders. This is coming few days after the release of the firm’s full year financial report for the year ended 30, September 2020.

The firm declared a turnover of N2.839 billion, up by 19.73% from the turnover of N2.371 billion reported the previous year.

Profit before tax (PBT) was N297.388 million, down by 2.32% from the PBT of N304.439 million reported the previous year.

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Neimeth declared a profit after tax of N212.476 million, down by 3.48% from N220.147 million achieved the previous year. Earnings per share (EPS) dropped to 11 kobo from EPS of 12 kobo reported in 2019.

Qualification date for the dividend is February 22nd, 2021. Closure of Register is on 23rd to 28th February, 2021. Payment date is on 12th of March 2021

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