By Adedapo Adesanya

The Nigeria Mortgage Refinance Company (NMRC) Plc has proposed the payment of 46 Kobo as a final dividend to its shareholders for the 2021 financial year.

The cash reward payment proposal was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.

The payment will be subject to the approval of shareholders at the 8th Annual General Meeting (AGM) of the company scheduled for Thursday, July 28.

According to the real estate investment company, its AGM will hold at the Abora Hall, Eko Hotel and Suite, Ademola Street, Victoria Island, Lagos, by 10 a.m.

If the dividend payment is approved at the meeting, shareholders of the company will be credited on the payment date, which is Friday, July 29.

The notice noted that the closure of the company’s register runs from Monday, July 18 through Friday, July 22, 2022 (both days inclusive).

The qualification date for the dividend was Thursday, July 21. This means only those who held the company’s shares as of this date will be eligible to receive the stipulated dividend payment.

At the close of trading at the NASD OTC bourse on Thursday, Housing Cable gathered that the company’s stock closed flat at N5.24 per unit.

Licensed in February 2015, NMRC is aimed at promoting and delivering affordable housing to Nigerians and building modern housing finance for Nigeria in collaboration with other housing stakeholders.

Its key role is mortgage refinancing which it does by raising long-term funds from the capital market to refinance conforming mortgage portfolios of mortgage and commercial banks in Nigeria.