The Board of Directors of Sameer Africa Limited has recommended a first and final dividend of 20 cents per share subject to shareholder approval at the Annual General Meeting.

The company’s profit before tax increased by KES 86.2 million (138.66%) from KES 62.19 million in 2010 to KES 148.45 million in 2011. The firm reported an increase of 9.87% on its sales from KES 3.344 billion in 2010 to KES 3.675 billion in 2011. The firm managed to maintain expenses 2% below the previous year’s expenses. The company’s total assets however decreased 8.56% from KES 926.98 million in 2010 to KES 847.67 million in 2011. Total liabilities also decreased, down 4.75% from KES 918.85 million in 2010 to KES 875.25 million in 2011. Earnings per share grew by 67% to 35 cents per share from 21 cents per share in 2010.

This proposed dividend in 30 cents lower than the 50 cents a share dividend that the company paid the previous year.