Proshare Logo
   Market Date: 28-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Honeywell shareholders approve N872million dividend

Category: Capital Market

  Read (2403)
Honeywell shareholders approve N872million dividend


Shareholders of Honeywell Nigeria Plc, yesterday, unanimously approved N872 million dividend, culminating to 11 kobo due to every shareholder of the company for the financial year ended March 31, 2010.

Addressing shareholders during the company’s first yearly general meeting in Lagos, on Tuesday, the Chairman of the company, Oba Otudeko, explained that the company achieved a turnover of N33.5 billion in its 2010 operations against N28.5 billion in 2009, while profit after tax rose from N217.1 million recorded in 2009 to N1.1 billion during the year under review.He said noted that the percentage increase in turnover is 17 per cent.

According to him, the improved performance was occasioned by high level commitment and unrelenting efforts of the board and management aimed at ensuring that shareholders reap good returns on their investment.He said the company is committed to the sustenance of strategies and policies that would maximise shareholders’ value in the short and long term basis.He told shareholders that the company introduced Honeywell whole meal and paster into the Nigerian Market last year.

He noted that the two products have been attracting positive patronage from consumers, which has impacted on the company’s turnover.Otudeko, however attributed the less impressive performance recorded by the subsidiary, Honeywell Superfine Food Limited to the high start-up cost of paster plant in Nigeria while assuring shareholders of improved result in the next financial year.

To consolidate on the performance, the Chairman said the company has concluded plans to increase its milling capacity from 1,000MT to 2,600 per day with additional milling plant an machinery to enhance productivity.The Executive Vice-Chairman of the company, Mr Folaranmi Babatunde Odunayo told shareholders that the company is putting measures in place to extend its business activities across sub Saharan region.

He added that theLanguage instructions on their products would be translated in French and other languages in Africa.


Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Capital Market

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014