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The Independent Shareholders Association of Nigeria(ISAN) have urged all quoted companies in the country to obey section 379 ss 2 of the companies and Allied Matters Act LFN 2004 (CAMA) and pay dividend to their shareholders to ameliorate the economic impacts of Coronavirus on shareholders as well as quoted companies.
According to a release from ISAN signed by its National Co-ordinator, Prince Anthony O. Omojola and Co-ordinator Emeritus, Sir Sunny Nwosu, the COVID-19 pandemic has forced many quoted companies to waste millions by postponing their annual general meetings (AGMs) which will ultimately impact negatively on the companies and shareholders financially, adding that the best thing is to convert their planned dividends into interim dividends by the decision of the board in the overall interest of the over- stretched economy.
They posited that the move will cohere with the directives of the government banning gatherings of more than twenty persons as well as save millions of naira for companies management in addition to the man hours that would have been lost.
