Chemical and Allied Products (CAP) Plc has assured its shareholders of improved performance in the current financial year as it paid a total dividend of N1.435 billion for the year ended December 31, 2017.
The shareholders approved the payment of N1.435 billion dividends, which translates to N2.05 dividend per share.
Reviewing the company’s performance during the 53rd Annual General Meeting in Lagos yesterday, the chairman of the company, Larry Ettah said that despite the difficult operating environment in 2017, the company ended the year with a respectable performance, saying that the business recorded a sales turnover of N7.11 billion, representing a growth of four per cent over the previous year, while the operating profit was N1.98 billion, a decline of seven per cent over 2016.
Ettah stated that the successful commissioning of the company automated in-plant tinting factory was an achievement in 2017, saying that the factory will ensure emulsion paints are promptly and…
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