Fred Ezeh, Abuja
Construction giant, Julius Berger Nigeria, has paid out a dividend of N2 for every share of 50kobo held by shareholders, in addition to a bonus share for the year ended December 31, 2019.
The Company also announced that it closed the 2019 financial year with great success, having achieved a turnover of 37 percent, with extraordinarily high cash flow and increase in profitability.
Managing Director, Dr. Lars Richter, who announced these development at the Company’s 50th Annual General Meeting (AGM), hinged the success on its powerful operational performance.
He said Julius Berger, increasingly, modernised its human resource structures and systems, invested in new equipment and advanced its work, while maintaining top standards for quality and record-breaking HSE performance and achievements as well as identifying and exploring opportunities for diversification of its business.
Speaking on the impact of COVID-19 pandemic on the company’s business, Richter, thanked Nigerian government for acting swiftly to contain the spread of the pandemic and its degenerative effect on the economy.
He however, informed the AGM that the speed and seriousness of the pandemic’s impact across the globe and business was not immediately tractable, adding that in compliance with the Federal Government’s lockdown restrictions, Julius Berger implemented response and mitigation measures.
He said: “In line with the phased and gradual easing of the lockdown measures, the company is carrying out a phased reopening, with return to work protocols in place. This process includes an internal and external awareness campaign, specialised training, dedicated hygiene and safety precautions and social distancing practices, all part of our return to work protocol”.
To a resounding applause from participants at the meeting, Richter informed the meeting that no Julius Berger staff lost his or her job due to COVID-19. “Our priority was not only to protect the health of all staff, but also to protect their livelihood,” he said.
The virtually coordinated and transmitted meeting was effectively directed by the board Chairman, Mutiu Sunmonu. An investor with the company, Mr. Matthew Akinlade, in his remarks described Julius Berger as the delight of Nigerian investors.