By Chinwendu Obienyi
Shareholders of Afriland Properties Plc, have approved the Board’s proposal to pay a sum of N137.4 million as dividends, translating to 10 kobo per share, an increase of 100 per cent from the corresponding year’s dividend of 5 kobo per share. This was even as the company reported an upward trend in the financial year ending December 31, 2021. Notwithstanding the challenging business environment, the real-estate firm saw a 15 per cent increase in revenue declaring a total revenue of N1.626 billion from the total revenue of N1.413 billion earned during the corresponding period of 2020.
The financials of the company were presented by the directors of the company at its 9th Annual General Meeting which took place at the multi-purpose auditorium of Afriland Towers, the Company’s Head Office in Marina, Lagos.
In his opening remarks, Chairman of Afriland Properties Plc, Emmanuel Nnorom, stated the company’s commitment to creating value and meeting shareholder expectations while adding that enhancing stakeholder value and maximising return for shareholders remain top priorities for Afriland Properties Plc.
“We are committed to meeting these goals. The 15 per cent increase in our revenue under the prevailing economic situation is indicative of our efforts at ensuring operational efficiency across our assets and services. Each shareholder will receive 10 kobo per ordinary share held as of the qualifying date, translating to N137.4 million as total dividend.
We are working with the management team to ensure that the company delivers on its promises and targets as part of our pursuit of continuous business growth and excellent financial performance”, he stated.
Also speaking at the meeting, the Managing Director/ Chief Executive Officer, Afriland Properties Plc, Uzo Oshogwe lauded the company’s efforts in the past year, citing resilience as one of the key factors driving the company forward.
“The past few years have presented a fair share of challenges. Despite strong headwinds, we remained resilient to record significant milestones. The Heirs Towers stands tall and resplendent on Ajose Adeogun, Victoria Island, and the completion of our Multipurpose Complex in Egbeda, represents a further demonstration of our craftsmanship as master builders.
As real estate consultants to one of the largest banks in Africa and a host of other world-class organisations, we work diligently to ensure the consistent delivery of quality services to all clients who depend on us to fulfill their real estate-related plans.”, Oshogwe said.