UPDC Shareholders Approve N962.5million Dividend Payout At 70kobo Per Share

UPDC shareholders approved the company’s proposed dividend payout of N962.5 million, representing 70 kobo per share held for the 2012 financial year.

A close look at the company’s financial results for 2012 showed that the company’s revenue rose in 2012 to N12.039 billion, 78 per cent rise over the N6.782 billion recorded in 2011, while Profit After Tax Before Non-Controlling Interests rose from N1.067 billion to N2.180 billion, indicating an increase of 31 per cent during the period.

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Ettah also reviewed the progress made by the company on building development noting that the company hopes to complete the 55-unit Metro Gardens in Lekki and the 18-unit Grandville in GRA, Ikeja, while progress has been made on other projects.

UPDC assures shareholders of improved profitability, pays N962.5m dividend