Transcorp Nigeria Plc released its 2013 FY audited results showing a revenue of N2.18billion (2012 FY: N2.36billion) for the company. The company ended the year with a profit after tax of N2.8billion 11% higher than the N2.5billion posted in 2012.
The Transcorp Group comprises of its subsidiaries posted a revenue of N18.8billion (2012: N13.2billion). It also posted a profit after tax of N6.9billion (2012: N2.5billion). Transcorp Plc has claim to about 58% of profits attributable to its group.
The board of directors of the company met and recommended a dividend of 5k per share. Transcorp Plc share price closed the week at N4 per share, therefore the dividend payment of 5k per share results in a paltry dividend yield of 1.25%. One will expect the share price to trend downwards based on this, but this is the NSE it might just defy all odds.