PRESCO posts N6.80 final dividend to shareholders

The Board of Directors of PRESCO Plc has announced that a final dividend of N6.80 per 50K ordinary share, subject to the shareholders’ approval at the Annual General Meeting (AGM) and deduction of withholding tax at the appropriate rate. An Interim dividend of N2.00 per 50 kobo share was paid also in the year under review.

The company in its published full year report for the period ended 31st December 2023 reported a turnover of N81.030 billion, grew by 70.85% from N47.426 billion reported the previous year in 2021

The company declared profit after tax of N13.032 billion for the twelve months period as against the profit after tax of N19.320 billion declared the previous year.

Earnings per share of the Agricultural company dropped to N13.03 from the EPS of N19.32 achieved the previous year.

At the share price of N220.00, the P.E ratio of PRESCO stands at 16.88x with earnings yield of 5.92%.