The Directors of Chemical and Allied Products Plc have proposed for the shareholders’ approval at the AGM, a scrip dividend that would give interested Shareholders the option to elect to receive new ordinary shares in the Company instead of the dividend in cash.
The scrip dividend election scheme gives Qualifying Shareholders the opportunity to choose to receive their dividends in the form of new ordinary shares in the Company instead of cash.
Qualifying Shareholders are those whose names appear in the Company’s Register of Members as at the close of business on the 1st of June 2022.
One benefit of the scrip dividend election scheme is that Qualifying Shareholders who elect to receive new ordinary shares would be able to increase the number of shares they hold in the Company without incurring capital market-related transaction costs.
A Qualifying Shareholder who intends to make an election for shares shall complete an Election Form and return same to Africa Prudential Plc, 220B Ikorodu Road, Palmgrove, Lagos (the Registrar) or via email to [email protected] on or before the 7th of June 2022.
Source: CAP Plc proposes scrip dividend to shareholders – StocksWatch (stocksng.com)