Fakoyejo OlalekanThe management of Okomu Oil Palm have agreed to pay shareholders an interim dividend of N7 per 50 kobo ordinary shares after the company reported significant growth in profit and revenue.
Okomu Oil’s decision to pay out dividend was driven by 72.5% growth in revenue generated in the first six months of 2022, as the palm oil maker closed the period with N40.8 billion, against the N23.6 billion grossed in first half of 2021 selling the product.
During the period, Okomu Oil’s profit skyrocketed, following the same path as revenue, as it grew 76.6% to N16.8 billion between January to June this year, surpassing the N9.5 billion the palm oil producers reported during the corresponding period of H1 2021.
With earnings stable, the board is offering to improve shareholders investment by N7 per 50 kobo dividend, and this applies to only shareholders whose names appear on the register of members as of August 22, 2022.
However, the dividend is subject to appropriate withholding tax and approval. Note that between August 23 and August 26, 2022, the register of shareholders will be closed.
“On 29th August 2022, dividends will be paid electronically to shareholders whose names appear on the register of members as of 22nd august 2022 and have completed the e-dividend registration and mandated the register to pay their dividend directly into bank accounts.
“Shareholders who are yet to complete the e-dividend registration are advised to download the registrar’s E-Dividend Mandate Activation Form which is also available on their website; complete and submit it to the registrar or the respective banks of shareholders.
“Shareholders with dividend warrants and share certificates that have remained unclaimed, or yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the registrar.”
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