Monday, April 22, 2024

Geregu Power approves N20 billion dividend for shareholders

Geregu Power Plc has approved paying its shareholders a dividend of N8 per ordinary share of 50k each, totalling N20 billion.

• April 2, 2024
GEREGU POWER
GEREGU POWER[Credit: THISDAYLIVE]

Geregu Power Plc has approved paying its shareholders a dividend of N8 per ordinary share of 50k each, totalling N20 billion.

Akinleye Olagbende, general counsel of Geregu Power, said this in the resolution of the company’s 12th annual general meeting (AGM) sent to the Nigerian Exchange Ltd (NGX) in Lagos on Tuesday.

Mr Olagbende said the beneficiaries are those shareholders whose names appear in its register of members as of February 27.

He said the company also appointed Olukunle Oyewole as an independent non-executive director.

The general counsel revealed that Anil Dua and Doron Grupper were also re-elected as Independent non-executive directors of the company.

Mr Olagbende stated that the directors were authorised to fix the remuneration of the auditors.

He said the power company also elected Anil Dua, John Robert Lee, Mr Taj Giwa-Osagie, Bisi Bakare and Bakare Shofoluwe as members of the statutory audit committee.

According to him, the firm approved the remuneration of its managers and directors for the year ended December 31, 2023, at the AGM.

Mr Olagbende said that the company’s memorandum and articles of association were also amended.

According to him, the new memorandum read that fully paid shares shall be free from any restriction on the right of transfer and free from all lien except as otherwise prescribed by the operation of law.

The general counsel stated that all regulatory announcements by the company would be published in at least two national newspapers with nationwide circulation.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Oyo State governor, Seyi Makinde

States

Traders at Bodija market are law-abiding but anyone caught hoarding foodstuffs will be  sanctioned: Babaloja

“We will ensure that our present stocks don’t go beyond the current prices, for the sake of our people.’’

a composite of WhatsApp and Threads logo

World

National Security:  China orders Apple to remove WhatsApp, Threads from App Store

Apple said it was obliged to obey laws in the countries where we operate, even when it disagreed.

Okuama

States

Okuama villagers need rehabilitation, productive livelihood: Dafinone

The senator said that he assured the military that he stood by them in the investigation.

Labour Party (LP)

States

Oyo LP chairman confident of victory in Saturday’s LP poll

We are ready for the election and sure of winning.’’

Nigerian Army logo

NationWide

Six soldiers die as troops eliminate scores of terrorists in Niger ambush

The Army said troops were currently trailing terrorists who fled from the encounter.

Lagos CP, Fayoade Adegoke

Lagos

Police probe alleged killing of man by Sky Mall MOPOL

My brother got stabbed to death by one of the police officers attached to Skymall at Sangotedo Lekki.’’