FY 2018: GlaxoSmitheKline Nigeria declares 50 kobo dividend

GlaxoSmitheKline Consumer Nigeria Plc (GSK), has declared a dividend of 50 kobo per 50 kobo ordinary share for the financial year ended Monday, December 31, 2018.

Come Friday, May 24, 2019, the dividends will be paid electronically to Shareholders whose names appear on the Register of Members as at Tuesday, April 23, 2019. Only shareholders who have completed the e-dividend registration process and mandated the Registrar to pay their dividends directly into their Bank accounts, will be paid.

In the meantime, the dividend payment is subject to appropriate withholding tax and approval, which will be gotten during the company’s Annual General Meeting.

The Register of Shareholders will be closed from Wednesday, April 24, 2019, to Monday, May 6, 2019.

Understanding Dividend 

A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.

Distribution to shareholders may be in cash (usually a deposit into a bank account) or the issuance of further shares, otherwise known as shares repurchase. But this is usually if the company has a dividend reinvestment plan.

In other words, a dividend is allocated as a fixed amount per share with shareholders receiving a dividend in proportion to their shareholding. For the joint-stock company, paying dividends is not an expense; rather, it is the division of after-tax profits among shareholders.

GSK’s financial statements

GlaxoSmitheKline Nigeria Consumer Plc recorded a revenue of N18.4 billion for FY 2018, as against N16 billion in 2017.

Profit before tax stood at N1.1 billion as against N1.1 billion in 2017, while profit after stood at N617.6 million as against N486.4 million in 2017.

About GSK

GlaxoSmithKline Consumer Nigeria Plc manufactures, markets and distributes healthcare products. Its shares traded at N8.55 during the last trading session on the Nigerian Stock Exchange (NSE).

Source:Nairametrics

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