By Nkiruka Nnorom
The shareholders of Afriland Properties Plc have approved the Board’s proposal to pay N137.4 million as total dividends for the year ended December 31, 2022.
They gave the approval at the company’s 10th Annual General Meeting (AGM) at Abuja.
Speaking on behalf of the other shareholders, National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude, expressed delight over the financial performance of the company, highlighting increased revenue, and earnings per share as positive development.
He attributed the success of the company to the hard work, dedication, and purposeful leadership of the Board and Executive Management of Afriland Properties Plc.
In his address at the meeting, Chairman of the company, Mr. Emmanuel Nnorom, said the company is focused on delivering adequate returns to its shareholders while still growing its retained earnings.
He said the company recorded a strong operating performance, growing its revenue by 19% to N1.9 billion from N1.6 billion in 2021, while its Profit Before Tax (PBT) rose by 12.5 percent to N1.8 billion from N1.6 billion in the previous year.
Uzo Oshogwe, Managing Director/CEO of Afriland Properties, acknowledged the efforts of staff as well as support from the Board of Directors and shareholders as key success drivers.
Source: Vanguard