Lafarge shareholders approve N14bn dividend for 2015
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.