Finance

Fidson to pay shareholders 50kobo dividend

Fidson Healthcare Plc has said its shareholders will earn a dividend of 50 kobo per share.

A statement on Sunday said the decision was unanimously approved by the company’s shareholders at the 23rd Annual General Meeting, held on Thursday in Lagos.

The statement noted that the company declared its financial report and dividend during the AGM. .

The statement read in part, “This dividend is a 100 per cent improvement on the 25 kobo per share declared in the 2020 financial year. The company in the year ended December 31, 2021, recorded a turnover of N30.860bn, compared with N18.275bn in 2020, representing an increase of 69 per cent. Operating profit grew from N3.097bn in 2020 to N5.862bn in 2021, representing an increase of 89 per cent. Also, profit after tax increased from N1.205bn in 2020 to N3.097bn during the year under review, representing an increase of 157 per cent.

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“Given the outstanding performance recorded in the year under review, the Board, in addition to the dividend, was pleased to propose a bonus of 1 new ordinary share for every 10 ordinary shares of 50 kobo held by shareholders as at the record date. The shareholders unanimously approved this.”

The Chairman, Board of Directors of the company Mr Segun Adebanji, said the firm continued to champion innovation and capacity expansion to address customers’ need for affordable and high-quality drugs despite the unfriendly socio-economic realities in Nigeria.

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Adebanji said, “Though the effect of economic challenges such as the foreign exchange situation, rising operating costs, poor government funding of the health sector and the incessant closure of markets, especially in the south-eastern part of Nigeria which disrupted the supply chain and regular supplies of our products around the country.

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“The board and management of our company remain determined to sustain our industry position as the pharma company of choice. We will continue to champion innovation and capacity expansion to meet our company’s strategic goals and priorities to address our customers’ need for affordable and high-quality drugs.”

Thenation

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