Lafarge Africa positions for 2017 corporate action

Lafarge Africa Plc is positioned to reward shareholders of the company with dividends likely to be proposed at its expected Annual General Meeting (AGM) later in the year, following the release of its 2016 financial statement.
In line with the Nigerian Stock Exchange, NSE, post listing requirements, the e company has given notice to the NSE regarding its board meeting scheduled to hold on February 22nd 2017.
The organisation disclosed in a statement to the NSE, that its board during the meeting would consider the company’s 2016 audited financial statements for the year ended December 31st, 2016.
The announcement titled “Notice of Lafarge Africa’s board meeting for discussing of dividend” signed by the company’s secretary, Uzoma Uja, partly reads: “the board of directors will be discussing dividend payable to shareholders of Lafarge Africa Plc in respect of the year ended 31st December 2016.”
It will be recalled that Lafarge Africa has sustained a dividend paying culture over the years to its shareholders consolidating confidence of investors and host communities on the organizations’ commitment to enhancing the fortunes of shareholders and stakeholders.
For instance in 2016, irrespective of challenges posed by the operating environment, the company paid 300 Kobo cash dividend and bonus share issues of 1 ordinary share for every 10 shares held by shareholders by the date of closure of register, of which payment was effected on 27th June 2016, same day the company’s AGM was held.
Lafarge Africa in 2015 paid cash dividend of N3.60 per share for its shareholders, while the payment was effected on 25th May 2015, the next working day following the AGM on 22nd May.
In 2014, the company rewarded its shareholders with N3.30 dividend per share paid July 10th, while 2013, 2012 and 2011 also saw shareholders of the company rewarded with sound dividend higher than that paid by its competitors in the Nigerian market.