UGL experienced the most significant growth in equity arising from fresh capital of GH₵135 million raised in 2016 and retained earnings of GH₵42 million.
The dilution in ROE is a combined effect of these equity changes and the fact that the profit is fairly the same as that of the prior year.
All other variances in ROE’s were as a result of changes in profit levels.
Dividend payout ratio
In line with accounting rules and companies act requirement, final dividend recommended by the directors can only be reorganized after the necessary resolutions are passed by the shareholders.
The GH₵m ADB loan to McDan ltd
…Govt says it is lawful but…
The New Patriotic Party (NPP) government of President Akufo Addo has defended its decision to grant a loan of GH₵10.4 million to McDan Shipping Company through the Agricultural Development Bank (ADB).
The Minority in Parliament last Tuesday, raised concerns because at the time the loan was granted, the ADB did not have a Board of Directors in place.
The Chief Executive Officer of McDan Shipping Company, Mr Daniel McCauley, has also defended the loan facility given to his company.
The Minister of Information, Mustapha Hamid, has said there was no breach of law in the loan granted to McDan Shipping Company limited by the Agricultural Development Bank (ADB).
Ratings of the black Stars in victory over Congo
Ghana stayed in the hunt to qualify for a fourth successive FIFA World Cup after ruthless finishing gave the Black Stars an impressive 5-1 win over Congo in Brazzaville early this week.
Ghanasoccernet.com runs the rule over the performance of the Black Stars players as they displayed a five –star performance.