La­farge share­hold­ers ap­prove N14bn div­i­dend for 2015

Daily Trust - - BUSINESS - From Sun­day Michael Ogwu, Lagos

The share­hold­ers of La­farge Africa have ap­proved rec­om­men­da­tion of a N14 bil­lion pay­out at 3 kobo per share for its cal­en­dar year ended 2015

The ap­proval, which was by a unan­i­mous vote, was given at the 57th an­nual gen­eral meet­ing of the com­pany which held in Lagos yes­ter­day. The pro­posed div­i­dend rep­re­sents 50.6 per cent of its net in­come af­ter tax­a­tion.

The share­hold­ers also ap­proved the pro­posed bonus is­sue of one new share for ev­ery 10 shares pre­vi­ously held by share­hold­ers. They also ap­proved the ap­point­ment of the new man­ag­ing di­rec­tor and six ex­ec­u­tive di­rec­tors whose ap­point­ments were re­newed.

Shola Abu­dorin, a share­holder with the com­pany urged the man­age­ment to con­sider an ex­pan­sion pro­gramme that would en­able the com­pany serve its tim­ing cus­tomers across the coun­try bet­ter.

An­other share­holder, Sir Sunny Nwosu, called on the man­age­ment to con­sider the re­pair of the Shaga­muI­jebu-Ode ex­press­way to ease the suf­fer­ing of the lo­cal in­hab­i­tants and guar­an­tee smooth ac­cess to the com­pany’s fac­tory.

The share­hold­ers also urged the com­pany to ex­tend its Cor­po­rate So­cial Re­spon­si­bil­ity to other parts of the coun­try, es­pe­cially the re-ha­bil­i­ta­tion of pri­mary schools, a project they felt would im­pact greatly on the qual­ity of ed­u­ca­tion.

Re­spond­ing to the con­cerns of the share­hold­ers, the chair­man of the com­pany, Mobo­laji Ba­lo­gun, said the com­ple­tion of the ex­pan­sion work in the Mfam­song plant at Unicem in Cal­abar would add ad­di­tional 2.5 mil­lion met­ric tons to its pro­duc­tion to raise it to 14.1MT an­nu­ally.

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