CAP records N7.06 billion turnover
Pays N1.6b total dividend
CAP PLC, a subsidiary of UAC of Nigeria PLC and manufacturer of Dulux, a leading global paint brand, has recorded a turnover of turnover of N7.06billion, an increase of 1 per cent, when compared to N6.9 billion posted in the corresponding period in 2014.
Its profit before tax also rose from N2.4 billion in 2014 to N2.57 billion during the year under review. This represent 5 per cent rise over N2.4 billion achieved in the previous year.
Besides, the company’s board also recommended a final dividend of N840million representing 120 kobo for every 50kobo ordinary share to shareholders on the register of members at the close of business on May 27, 2016 for consideration and approval.
This is in addition to the interim dividend of 115 kobo per share paid on December 15, 2015, bringing the total dividend for 2015 financial year to N1.645 billion, representing 235 kobo per share.
Addressing shareholders during the company’s yearly general meeting held in Lagos at the weekend, the company’s chairman, Larry Ettah pointed out that as part of efforts to consolidate on the improved performance, the firm has opened additional Dulux colour centres in Yola and Gombe with Dulux Colour Shops located in Lafia, Ada-George Port Harcourt, Ado-Ekiti, Dugbe, Ibadan, Agbor, Suleja, Lugbe Abuja and Jalingo.
“Fiscal policy is expected to be largely expansionary as the government seeks to stimulate economic activities and generate employment.
“The Board and Management of your company is alive to these challenges and have outlined mitigating strategies to ensure that these headwinds do not significantly impact our business negatively in 2016.”