Dividend: Transcorp Hotels to pay 15 kobo per ordinary share

Transcorp Hotels Plc has announced to pay a final dividend of 15 kobo per ordinary share to its shareholders. The payment is subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on Wednesday, February 27, 2019.

The dividend payment is for the period ended December 31, 2018.

In a statement signed by Helen Iwuchukwu, the Group Company Secretary, the hospitality firm disclosed that on Tuesday, March 19, 2019, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Wednesday, February 27, 2019, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

According to Transcorp, the Register of Shareholders will be closed from Thursday, February 28, 2019, to Friday, March 1, 2019.

The dividend payment may be good news for the company’s shareholders, as Transcorp recorded a very good financial statement for the period ended December 31, 2018.

However, Transcorp Hotels Plc has released its financial statements for the period under review.

The company recorded N12.8 billion gross profit as against N10 billion in 2017.

Profit before tax stood at N5 billion as against N3.4 billion in 2017. Profit after tax stood at N3.7 billion as against N2.6 billion in 2017.

About Transcorp Hotels Plc

Transcorp Hotels Plc (“Company”) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The Company owns and operates the multiple award-winning Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisines, conferencing and leisure facilities to business travelers and tourists from all over the world.

The company owns and operates hotels in Nigeria. Its hotels comprise Transcorp Hilton Hotel, a 5-star hotel with 670 rooms located in Abuja; and Transcorp Hotels with 146 rooms located in Calabar.

The company was formerly known as Transnational Hotels and Tourism Services Limited and changed its name to Transcorp Hotels Plc in 2014. The company was incorporated in 1994 and is based in Abuja, Nigeria.

Transcorp Hotels Plc traded N6.10 on the floor of the Nigerian Stock Exchange (NSE) as of Thursday, February 14, 2019.