CPL GROUP ANNOUNCES SHAREHOLDER PAYOUT FOLLOWING RECOVERY
CPL Group has announced a K20.12 million before-tax profit.
An interim dividend is 1.33 toea per share was announced on the 8th of March 2021 following which the Group declared a dividend payment of 1.67 toea per share.
“This is a pleasing result and shows that we are on the track to recovery following the fire devastation of over K33 million in stock, property and data loss in 2017” said Mr. Stan Joyce, CPL Group Chairman.
The Group has seen an increase of 3.6% in its 2020 revenue with a growth of 5.92% in gross profit. The Group was pleased to report a considerable growth of 85% in its trading profit before income tax comparative to 2019, added Chairman Joyce.
The market statement from the Group’s POMSoX Chairman outlined the following dates for its shareholders to observe:
i. Ex-Date: Friday 26th March, 2021.
ii. Record Date: Wednesday 7th April, 2021.
iii. Payment Date: Wednesday 21 April, 2021.
The Chairman is optimistic for 2021 amid challenges from COVID-19 restrictions.
The Group is confident that with the current measures in place will ensure a safer environment for its consumers to shop and employees to work.
Under the reign of its recently appointed CEO, Mr. Navin Raju, the business will continue to work with all stakeholders to ensure that safety of its employees and customers remains its number one priority.
Photo caption: CPL Group’s Flagship store, Waigani Central in the heart of Port Moresby.