​Camelot declares dividend in respect of 2015 financial year

Low market cap stock Camelot has maintained a dividend of GHS0.0075 per share in respect of the 2015 financial year despite 37.9%y/y decline in net profit to GHS157,723.00 in 2015. The drop in earnings was attributed to significant rise in cost of sales and administrative expenses in 2015. The company paid a similar dividend in the 2014.

Camelot is expected to pay a total dividend of GHS51,219.57 based on issued shares of 6.83 million. The drop in earnings has elevated the dividend payout ratio to 32.5% in 2015, from 20.2% in 2014.

The 2015 dividend of GHS0.0075 reflects a good dividend yield 6.3% based on the prevailing market price of GHS0.12 per share.

Camelot has largely been a dormant stock and has not recorded any price appreciation so far in 2016. In the absence of capital gain, dividend payment has largely been the best form of return for the company?s shareholders. This explains why an effort was made to sustain the dividend amount in 2015 despite a drop in earnings. The company has a current market capitalization of GHS0.82 million.

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