Business GSK Declares 60 kobo Special Dividend to Nigerian Shareholders



GlaxoSmithKline has declared a special dividend of 60 Kobo per share to its shareholders in Nigeria.

The declaration was approved by the company’s shareholders during the extra-ordinary general meeting held on Monday, July 4, 2016 on the disposal of the company’s drinks business (Lucozade and Ribena brands) to Suntory Beverage and Food Nigeria Limited.

The transaction will include the sale of the firm’s Agbara manufacturing facility designed for drinks business and 6.45 hectares of land while the company retains 3.45 hectares of the land to enable it to invest and grow the retained GSK consumer business, according to the firm.

Chairman of the firm's Board of Directors, Edmund Onuzo explained that a special dividend of N716m, culminating in 60 kobo per share, would be paid to shareholders on the completion of the transaction.

GSK says it is selling its drinks business to enable it to focus on its core business, which is healthcare.


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