May & Baker increases dividend payout by 233.3%

May & Baker increases dividend payout by 233.3%

Shareholders of a popular brand in Nigeria’s pharmaceutical sector, May & Baker Nigeria Plc are set to smile.

The healthcare company’s board of directors of the company has recommended distribution of N196 million as cash dividend for the 2017 business year, representing a dividend per share of 20 kobo.

The recommended dividend payout for 2017 represents an increase of 233.3 percent on the payout for the 2016 business year.

May & Baker had distributed N58.8 million as cash dividend for the 2016 business year, with shareholders receiving a dividend per share of 6.0 kobo.

Key extracts of the audited report and accounts of May & Baker Nigeria for the year ended December 31, 2017 released at the Nigerian Stock Exchange (NSE) showed that the healthcare company recorded significant growths in sales and profitability in 2017.

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