Shareholders of National Salt Company of Nigeria, NASCON Plc
have commended the Board of Directors
for declaring N1.32 billion dividend for
the financial year 2014 , just as they advised its Board of Directors to
strengthen the research and development unit of the organization in order to
achieve optimal result and operation.
The dividend translates to 50 kobo per share due to every
shareholders of NASCON( a subsidiary of Dangote Group). The shareholders also
approved a new name for the company and commended the company for the huge
investment made in production of tomato
paste, vegetable oil and seasoning.
The shareholders, who spoke during the 2014 yearly general
meeting of the company, held in Lagos urged the Board to sustain the dividend
payout as they expect higher dividend in the next financial year. Specifically,
a shareholder, Kazeem Olayiwola commended the management for enhancing their
returns on investment through dividend payout.
In his words “ We commend your performance and are satisfied
on the successes recorded so far in the production of other food condiments
apart from salt. Other investment would translate into more values for
stakeholders in the coming years.”
He charged the management of NASCON especially the marketing
division to be more innovative as to drive more sales of the several range of
products now available within the company. He specifically tasked the
management to pay more attention to staff training and incentives as these are
essential to drive productivity.
Another shareholder, Sotunde Sopeju and other shareholders who spoke at the meeting also commended the management
for turning around the fortunes of NASCON which has now gone beyond salt
refining.
According to her “NASCON has done well in paying of
dividends adding that most of the banks are unable to pay dividends. Sopeju
lauded the management for ploughing back much of the profit into new projects,
adding that it would boost the company’s revenue going forward.”
Speaking at the meeting, the Chairman of NASCON, Alhaji Aliko Dangote assured
shareholders that the company’s new business lines will impact significantly on
the returns to shareholders.
According to him “ The new business will drive both revenue
and profit. Following the approval of
the shareholders at the last annual general meeting to change the name of the
company to reflect current investments and new operational status as a
manufacturer of other related consumer and daily needs, the company is now
known as Nascon Allied Industries Plc.
“I am happy that our prospect for 2015 remains excellent. We
shall continue to be committed to improving our upward trend, and we will
ensure your company continues to grow and remain competitive so as to deliver
increasing dividend to all stakeholders.”
He explained that the company posted a turnover of
N11.2billion, representing 4 per cent rise when compared to N10.8 billion
achieved in 2013. However, profit before tax stood at N2.8 billion compared to N4billion achieved
in the previous year.
Credit;
Vanguard
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