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Honeywell Flour to pay N1.3b dividend

By on September 23, 2013

The Board of Directors of Honeywell Flour Mills (HFM) has recommended the payment of N1.3billion as dividend for the year-ended March 31, 2013.

The dividend, which translates to 16 kobo per share, is one kobo higher than the 15 kobo paid the previous year.

The company in a notification to the Nigerian Stock Exchange said its 4th annual General meeting would hold on September 24, 2013 at the Civic Centre, Victoria Island, Lagos.

Speaking ahead of the AGM, the Executive Vice Chairman/Chief Executive Officer of the company, Mr. Babatunde Odunayo, said that the company achieved a superior performance in the year under consideration, noting that this was in spite of the various operating challenges in the country.

He said, despite the challenges, the company was able to sustain its product quality and brand leadership across all product offerings.

Odunayo added that the company was involved in various projects in the year under consideration, which he explained had begun to positively impact on the business and will translate into higher dividend in the near future.

In the last one year, Honeywell Flour Mills Plc made significant investments, not only in enhancing plant and machinery capacity but also in improving human capability through various overseas and local training, in technical and leadership development areas. Its array of products which include Flour, Semolina, and Wheat Meal have continued to remain in peak demand while significant growth was also experienced in respect of the Pasta and Noodles products.



[Daily Independent]