Honeywell Flour to pay N1.3b dividend

The Board of Directors of Honeywell Flour
Mills (HFM) has recommended the
payment of N1.3billion as dividend for
the year-ended March 31, 2013.
The dividend, which translates to 16 kobo
per share, is one kobo higher than the 15
kobo paid the previous year.
The company in a notification to the
Nigerian Stock Exchange said its 4th
annual General meeting would hold on
September 24, 2013 at the Civic Centre,
Victoria Island, Lagos.
Speaking ahead of the AGM, the Executive
Vice Chairman/Chief Executive Officer of
the company, Mr. Babatunde Odunayo,
said that the company achieved a superior
performance in the year under
consideration, noting that this was in
spite of the various operating challenges
in the country.
He said, despite the
challenges, the company
was able to sustain its
product quality and brand leadership
across all product offerings.
Odunayo added that the company was
involved in various projects in the year
under consideration, which he explained
had begun to positively impact on the
business and will translate into higher
dividend in the near future.
In the last one year, Honeywell Flour
Mills Plc made significant investments,
not only in enhancing plant and
machinery capacity but also in improving
human capability through various overseas
and local training, in technical and
leadership development areas. Its array
of products which include Flour, Semolina,
and Wheat Meal have continued to
remain in peak demand while significant
growth was also experienced in respect of
the Pasta and Noodles products.

[Daily Independent]