NIPCO to settle outstanding dividends

Forum 8 months ago

NIPCO to settle outstanding dividends

NIPCO Plc on Saturday announced that it just concluded its 19th Annual General Meeting in Abuja, where it promised to settle all outstanding dividends to shareholders within a month.

NIPCO’s Company Secretary, Paul Obi, in a statement from the firm, told shareholders that over the last 19 years, a lot of the company’s resources had been capitalised through investments in the development of strategic capital projects.

Commenting on the issue of unclaimed dividends by shareholders, Obi assured them that the matter would be resolved within the next one month.

He said the company had commenced the process to pay all the outstanding dividends to shareholders in compliance with the regulations of the Securities and Exchange Commission.

The statement read in part, “Following the issuance of NIPCO shares in 2003, he (Obi) recalled that the bulk of the investors were IPMAN members, who were among the over 5,000 marketers from the 21 different depots that contributed to the fund from across the country, while the direct shareholders were about 1,800 investors.”