Flour Mills Grows Profit by 17% ,recommends N1.40 Dividend
Flour Mills of Nigeria (FMN) Plc has declared a dividend of N1.40 per share 50 kobo share for the year ended March 30, 2020, showing increase of 17 per cent compared with N1.40 paid the previous year.
FMN recorded a revenue of N573.774 billion, indicating a growth of 8.8 per cent from N527.405 billion in 2019. However, FMN Plc’s bottom-line got a boost due to decline of 20.5 per cent in net finance cost, which fell from N22.123 billion to N19.975 billion. Profit before tax (PBT) grew by 72 per cent from N10.174 billion to N17.497 billion, while profit after tax (PAT) grew faster by 184 per cent from N4.0 billion to N11.4 billion. Based on the performance, the board recommended a dividend of N1.40, up from N1.20 paid the previous year.
Related Posts
Kohl’s shares surge 20% on Q2 earnings beat
Kohl’s shares soared over 20% after the retailer reported second-quarter earnings and revenue that exceeded Wall Street’s forecasts,…
ByShell to start new drilling in Namibia’s Orange Basin in 2026
Shell is set to launch a new exploration drilling campaign in Namibia’s Orange Basin in 2026, targeting commercial…
Helen of Troy taps Scott Uzzell as CEO
Helen of Troy Limited’s Board of Directors has appointed Scott Uzzell, a seasoned executive with leadership experience at…
Mantra drives $1.2bn uranium project in Tanzania
Mantra Tanzania Limited has reaffirmed its commitment to transforming the socio-economic landscape of Namtumbo District in Ruvuma Region,…
Gallery
