Flour Mills proposes N6.8bn dividend

Flour Mills of Nigeria Plc has proposed a final dividend of N6.8 billion or N1.65 per ordinary share of 50k to its shareholders for approval at its Annual General Meeting which will be held on Wednesday in Lagos.

This year’s Annual General Meeting, with the theme “Enriching Lives, Empowering Communities,” will highlight the Group’s achievements in the 2020/21 financial year despite difficulties faced by businesses as a result of the global pandemic.

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Speaking on the result, the Group Managing Director, Omoboyede Olusanya, said the Group saw significant growths as a result of its consumer-focused product innovation, accretive strategic relationship across all its business value chains further to its continued commitment to increasing local content in the agro-allied sector.

He said: “We are optimistic that the business environment will continue to improve as we further sharpen our Route to Consumer Business Focus. We believe that putting our consumers at the heart of the business enables us to optimise value for our shareholders and create long term positive impact for all stakeholders. “

Due to COVID-19 restrictions on mass gatherings and in keeping with the guidelines issued by the Corporate Affairs Commission on holding AGMs using proxies, attendance at the AGM shall only be by proxy.