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The shareholders of Industrial and Medical Gases Nigeria Plc have been rewarded with a dividend of N208 million for the fiscal year 2022, as the company's management works to decrease costs and optimize output.
According to a company statement, the cash dividend of N208 million for the fiscal year 2022 equated to 40 kobo per ordinary share, compared to a stock dividend of one for every five shares held in 2021.
The manufacturer of industrial and medical gases increased its profit before tax by 27.56 percent to N704 million in December 2022, up from N552 million in the same period the previous year, while earnings per share stood at 90 kobo, up from 89 kobo the previous year.
The net profit increased by 20.52 percent to N448 million in 2021, from N372 million.