National Economy
Tuesday, September 16, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

Flour Mills’ Shareholders Approve N9.23bn Dividend Payout

by Olushola Bello
2 years ago
in News
Reading Time: 2 mins read
Flour Mills
Share on FacebookShare on TwitterShare on Telegram

The shareholders of Flour Mills of Nigeria (FMN) approved the management’s N9.23 billion total dividend payment, at N2.25 per ordinary share, for the financial year ended March 31, 2023.

The shareholders gave their approval at the 63rd Annual General Meeting (AGM) held in Lagos. This is as the shareholders applauded company’s commitment to sustainable value creation.

Speaking, vice chairman, FMN Board of Directors, and the acting chairman for the meeting, Mr. Paul Gbededo emphasized the company’s commitment to balancing shareholder returns with sustainable long-term growth.

Gbededo noted that “FMN remains as committed as ever to delivering sustainable long-term value for our shareholders while also upholding the highest standards of corporate social responsibility. We aim to strike the right balance between profitability and purpose. Our shareholders are our most valuable stakeholders. We highly appreciate their feedback and counsel which helps sharpen our focus on creating enduring shareholder wealth.”

You May Like

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

Nigeria, Others To Brainstorm On Sustainable Energy Goals

Also, the Group’s GMD/CEO of Flour Mills, Mr. Boye Olusanya stated that “enhancing diversity and inclusion remains a top priority. We are accelerating efforts to ensure women are equitably represented at senior levels of our company.”

Olusanya reiterated that “boosting domestic value chains through local sourcing is a key element of our growth strategy. We remain committed to supporting local farmers, suppliers and partners.”

FMN reiterated its commitment to upholding the highest standards of corporate governance while delivering shared prosperity for shareholders, consumers, and local communities.

Shareholders overwhelmingly voiced their approval of FMN’s strong financial performance, praising the dividend payout of N9.23 billion at N2.25 per ordinary share.

They urged the company to maintain its focus on profitability and shareholder value creation. However, shareholders also pushed for higher future dividend payments given FMN’s solid performance.

On Corporate Social Responsibility (CSR), shareholders commended FMN’s support for community development initiatives across Nigeria, emphasizing the need for continued investments in CSR to uplift living standards.

Shareholders also stressed the importance of diversity, inclusion, and gender balance at all company levels. They advised accelerating efforts to ensure equitable female representation on FMN’s board and executive team.

They advised “maximizing utilization of local raw materials and production inputs to boost domestic value addition. FMN’s management highlighted that supporting local content remains a key priority.”

Flour Mills of Nigeria was incorporated in September 1960 and quoted on the Nigerian Stock Exchange since 1978, Flour Mills of Nigeria (FMN) Plc, owners of the iconic Golden Penny Food brand is one of Nigeria’s leading food and agro-allied companies. With a broad basket of food products and robust pan-Nigerian production, distribution, and supply chain network, FMN is a fully integrated and diversified food and agro-allied group.

ShareTweetShare
Previous Post

Food Security In Nigeria: FG Commences Country-Wide Dry Season Production Activities

Next Post

Off-cycle Elections: Hotels, Others Record Boom In Business

ANOTHER GOOD READ

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure
News

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

1 day ago
Nigeria, Others To Brainstorm On Sustainable Energy Goals
News

Nigeria, Others To Brainstorm On Sustainable Energy Goals

1 day ago
Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office
News

Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office

1 day ago
Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations
News

Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations

1 day ago
Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria
News

Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria

1 day ago
Aviation Safety: NiMet Unveils Digital Flight Folder, Aeronautical Bulletin
News

Aviation Safety: NiMet Unveils Digital Flight Folder, Aeronautical Bulletin

1 day ago
Next Post
Off-cycle Elections: Hotels, Others Record Boom In Business

Off-cycle Elections: Hotels, Others Record Boom In Business

Most Recent

How Fintech Can Untie Puzzle At  Bottom Of The Pile

How Fintech Can Untie Puzzle At Bottom Of The Pile

September 15, 2025
16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

September 15, 2025
Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

September 15, 2025
Nigerian U-20 Captain Daniel Joins Slovenian Club

Nigerian U-20 Captain Daniel Joins Slovenian Club

September 15, 2025
Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

September 15, 2025
Safe Skies: Phone Switched Off Or Airplane Mode?

Safe Skies: Phone Switched Off Or Airplane Mode?

September 15, 2025
Articulated Vehicles And Increasing Fatalities: A Call To Action

Articulated Vehicles And Increasing Fatalities: A Call To Action

September 15, 2025
‘Africa Can Generate $3.5trn GDP From AfCFTA’

‘Africa Can Generate $3.5trn GDP From AfCFTA’

September 15, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy