Tuesday, March 03, 2015 6:00AM / The Analyst
Annual General Meetings remain an avenue through which shareholders, most especially minority shareholders, get their views about company affairs across to the board and management.
AGM as it is generally called also represents the only time company executives and shareholders interact as the company presents its annual report which is expected to contain financial information for the shareholders about the company’s performance and strategy.
Within the twenty-one (21) working days’ notice of meeting that is expected to be given to all shareholders before any general meeting is convened, activist shareholders as well as non-activist can use this period to study the report document and use the annual general meetings as an occasion to express their concerns to the board of directors of the firm.
So far in the market, four (4) quoted firms have announced the date for their forthcoming AGMs. NEIMETH is expected to hold the first AGM in the year in March 2015 as FO also plans to hold its AGM in April while the remaining two involving NESTLE and NB is expected to come up in May.
Out of the four firms, three proposed dividends while one of the three proposed both cash and scrip dividends. NESTLE, however proposed the highest dividends of N17.50k.
As the due date for filing of Audited financial statements for the period ended December 31, 2014 approaches, we expect that more quoted firms will turn in their audited financials along AGM details before the March 31st 2015 due date.
1. NESTLE Proposes N17.50k per share Final dividend in '14 Audited result,(SP:824.01k
2. FO declares 250k dividend per share in '14 Audited result,(SP:222.00k)
3. NB Proposes N3.50 dividend per share in '14 Audited result,(SP:N131.80K)
4. Nestle & FO - Early Filers in 2015; Rewards with Dividend and Bonus
5. NSE ASI, Sectoral Indices Trade Red as NSE Oil Index Records +1.19% YTD Gain