Don't Miss


Home   >   Business   >   Industries   >   CAP Plc records improved results, pays N1.645bn dividend

CAP Plc records improved results, pays N1.645bn dividend

By on June 21, 2016

Shareholders of CAP Plc, a  subsidiary of UAC of Nigeria Plc, are to receive a total dividend of N1.645 billion for the year ended December 31, 2015, following an impressive performance for the year.

The dividend, which translated to 235 kobo per share, comprises 115 kobo interim, and 120 kobo final.

While the interim had been paid since December last year, the final dividend was approved by the shareholders at the annual general meeting of the company held last Thursday.

CAP Plc recorded a turnover of N7.06 billion and a profit after tax of N2.57 billion. Speaking at the AGM in Lagos, Chairman of the company, Mr. Larry Ettah, Chairman CAP Plc to further improve the  brand visibility and accessibility to consumers,  they  opened additional Dulux Colour Centres in Yola and Gombe and Dulux Colour Shops in Lafia, Ada-George Port Harcourt, Ado-Ekiti, Dugbe Ibadan, Agbor, Suleja, Lugbe Abuja and Jalingo.”

“The company retained its ISO 9001:2008 and 14001:2004 certifications on Quality and Environmental standards respectively as we continued to offer high quality products and services to customers while complying with regulatory requirements and conduct our operations in a healthy and safe manner, ensuring minimal impact on the environment.”

Speaking on the on the outlook for 2016, Ettah said  fiscal policy is expected to be largely expansionary as the government seeks to stimulate economic activities and generate employment.

“The year has, however, started on an adverse mode, with acute shortage of foreign exchange. The cumulative effect of the scarcity of forex, falling oil prices, and the resurgence of restiveness in the Niger Delta, which could endanger the production output of 2.2m barrels per day and the continued depletion of foreign reserves pose serious threats to businesses and social activities in 2016.”

The challenging environment notwithstanding, the chairman stated that  the board and management of  CAP Plc  company is alive to these challenges.

“The board and   management and   of your company is alive to these challenges and have outlined mitigating strategies to ensure that these headwinds do not significantly impact our business negatively in 2016,” he said.

 

[ThisDay]