You are here: HomeBusiness2020 05 27Article 359263

Business News of Wednesday, 27 May 2020

Source: www.mynigeria.com

GlaxoSmithKline declares N0.55k dividend

GlaxoSmithKline Consumer Nigeria Plc GlaxoSmithKline Consumer Nigeria Plc

GlaxoSmithKline Consumer Nigeria Plc has declared a dividend of N0.55 per 50 kobo ordinary share to its shareholders for the 2019 financial year

According to a notice filed by the pharmaceutical firm, it is subject to applicable withholding tax and shareholder approval.

It is expected to be paid to shareholders whose names appear in the Register of Members as at the close of business Monday, June 22, 2020.

The dividend will on Friday, July 24th, 2020, be paid electronically to shareholders whose names appear on the Register of Members as at Monday, June 22, 2020, and to those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

While the Register of Shareholders will be closed from June 33rd to July 2nd 2020, the Qualification date has been scheduled for Monday, June 22, 2020.

Shareholders yet to complete the e-dividend registration were advised to download the Registrar's E-Dividend Mandate Activation Form, complete them and submit it to the Registrar or their respective Banks.

A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.

Distribution to shareholders may be in cash (usually a deposit into their bank accounts) or the issuance of further shares, otherwise known as shares repurchase. But this is usually done if the company has a dividend reinvestment plan.