Nigeria’s leading diversified listed conglomerate, Transnational Corporation of Nigeria Plc (Transcorp), has announced plans to pay a dividend of 3 kobo per ordinary share for the period ended December 31, 2018.
The dividend payment is subject to appropriate withholding tax and shareholders’ approval, after which it will be paid to shareholders whose names appear on the Register of Members as at the close of business on Thursday, February 28, 2019.
On Tuesday, March 19, 2019, the dividends will be paid electronically to eligible shareholders, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
The dividend payment is no doubt expected to excite the company’s shareholders, as Transcorp recorded laudable financial results for the year ended Monday, December 31, 2018.
Transcorp had announced its audited results for the period under review, with a 94% growth in Profit After Tax (PAT) of ₦20.6 billion in 2018 compared to ₦10.6 billion in the prior year.
The Group recorded an unparalleled improvement within the year as turnover grew by 30% to ₦104.2 billion. Profit Before Tax (PBT) increased to ₦22.4 billion from ₦12.3 billion in 2017, depicting an 82% year on year growth.
The CEO who took over the company in January 2019, Valentine Ozigbo, said
“We’re proud to have ended the year on a high-note while sustaining a strong performance, which is a reflection of our sound business strategy.”
“We will continuously strive to deliver significant value to our stakeholders while achieving our long-term goals,” he said.
Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate. The company’s portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors.
The company’s notable businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, and Transcorp Energy.
Transcorp Plc is currently trading at N1.54 on the floor of the Nigerian Stock Exchange (NSE).