GGBL has declared a dividend for the third consecutive year in respect of the 2020 financial year. However, the dividend per share of GHS0.0138 is 52.9% lower than the dividend of GHS0.0293 declared in the previous year. The lower dividend was driven by a contraction in earnings by 32.6%y/y to GHS12.16 million in 2020 from GHS18.05 million in 2019.
The company is expected to pay a total dividend of GHS4.24 million to investors given its 307.59 million issued shares. This would reflect a dividend pay-out ratio of nearly 35% in 2020, down from nearly 50% last year.
The dividend of GHS0.0138 per share reflects a dividend yield of 1.4% based on the company’s prevailing market price of GHS1.00 per share. While the dividend yield is low, it is still commendable in a market that many stocks do not pay dividend consistently. Like the saying goes “in the kingdom of the blind, the one eyed man is king”
GGBL announces that the Company’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GHS0.0138 per share for the financial year ended 30th June, 2020.
All shareholders registered in the books of GGBL at the close of business on Monday, 2nd November, 2020 will qualify for the final dividend.
Closure of Register
The Register of shareholders will be closed on Tuesday, 3rd November, 2020.
In view of the foregoing, the ex-dividend date has been set as Thursday, 29th October, 2020. Consequently, an investor purchasing GGBL shares before this date will be entitled to the final dividend. However, an investor buying GGBL shares on or after Thursday, 29th October, 2020 will not be entitled to the final dividend.
Dividend Payment Date
The final dividend will be paid from Friday, 4th December 2020