MeCure proposes 0.15 kobo dividend per share to shareholders

Onwubuke Melvin
Onwubuke Melvin

MeCure Industries Plc, a Nigerian pharmaceutical company has proposed a final dividend of 0.15 kobo per share payable to shareholders whose names appear in the Register of Members as of the close of business on May 17, 2024.

This disclosure was made at the company’s Annual General Meeting held in Lagos last week, according to Businessday.

According to the AGM resolution announcement on Nigerian Stock Limited, the dividend payment was made for the fiscal year ending in 2023.

“A dividend payment of 0.15 kobo per share was declared as a dividend for the financial year ended December 31, 2023, payable forthwith to the shareholders whose names appear in the Register of Members as at the close of business on May 17, 2024 subject to deduction of appropriate withholding tax,” the statement said.

Furthermore, the election of Olatunji Bamidele, Odunuga Samiat, and Yakubu Mosuro as members of the statutory audit committee was approved to serve along with Chidi Okoro and Joseph Oyeyemi Babatunde, representative of the board until the conclusion of the next AGM.

In the company’s unaudited financial statement for 2023, MeCure’s after-tax earnings increased slightly to N2.9 billion from N2.61 billion the previous year.

Its revenue increased by 19.5% to N31.8 billion from N26.6 billion, while its cost of sales jumped to N21.5 billion from N17.8 billion in 2022.

“Marketing expenses stood at N1.14 billion from N957.7 million while Administrative expenses grew to N3.1 billion from N2.6 billion,” the statement said.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *