Ice cream manufacturer Fan Milk Limited will not pay dividend to its shareholders for the year 2019 due to the COVID-19 pandemic the company has stated.
“In the uncertain context of COVID-19 pandemic, reflecting the Company’s prudent balance sheet policy and to ensure financial flexibility, Fan Milk Limited’s Board of Directors decided to pay no dividend for the year 2019,” the company said in a statement.
Fan Milk is a manufacturer and retailer of ice cream and frozen dairy products.
The company was the first foreign-invested company in Ghana to become a Public Limited Liability in 1967 and among the first Companies to be listed on the Ghana Stock Exchange on 18 October 1991 with the symbol FML.
As of 2003, it had over 3,250 shareholders.