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Business News of Tuesday, 4 August 2020

Source: www.mynigeria.com

Cornerstone Insurance plans 3.4 billion bonus shares for investors

Cornerstone Insurance Plc Cornerstone Insurance Plc

Cornerstone Insurance Plc has announced plans to give bonus shares totaling 3.4 billion to shareholders.

The company said in a statement made available to the Nigerian Stock Exchange on Tuesday that the shares would be allotted on the basis of seven new shares for every 30 existing shares.

It said the share allotment was subject to regulatory approvals and would only be made to shareholders whose names appeared in the register of members as of the close of business on August 12, 2020.

It said the register of members would be closed between August 13 and August 17.

The company said the qualification date for the bonus shares would be August 12.

The statement read in part, “Shareholders who are yet to complete the e-dividend registration are advised to download the registrar’s e-dividend mandate form, complete and submit to the registrar or their respective banks.”

It added that shareholders with dividend warrants and share certificates that had remained unclaimed or were yet to be presented for payment or returned for validation should complete the e-dividend registration or contact the registrar.