Shareholders of Fidson Healthcare Plc, are going to simile to their respective banks on Friday September 27, 2019, as the registrars will commence payments of the 15 kobo dividend that was recommended by the board of directors for the financial year ended December 31, 2018.
The dividend was approved by shareholders at the company 20th Annual General Meeting (AGM) in Lagos on Thursday September 26, 2019. The total dividend amount to N225 Million and it’s subject to appropriate statutory withholding tax.
Commenting on the company’s recent activities, Chairman of the board Segun Adebanji, explained to shareholders that the right issue has resulted in the emergence of a strategic partner, who now controls about 20 percent of the company issued share capital. According to him, this strategic partner, Ohara Pharmaceutical Limited, a Japanese company, holds its share through a Nominee company Stanbic Nominees.
He explained that “we have continued to strengthen our operating facility with expansion and retooling. Old machines and equipment have been disused and replaced with modern ones. We are currently expanding our capacity utilization through increased production and contract manufacturing for other notable companies in the industry”
Adding that through various capital injections, business realignment and useful industry alliance / collaborations, the board and management are poised to reposition the business in order to take advantage of growth opportunities in the market. At the close of trading on Thursday September 26, 2019, the company share price closed at N4.50 kobo.