Key Highlights
- Afriland Properties Plc proposed a dividend of 10 kobo per ordinary share for the financial year ending December 31, 2022, amounting to N137.4 million.
- The real estate company grew its revenue by 19% to N1.9 billion in FY 2022.
- The Company’s total assets also grew by 12% to N19.billion from N17.3billion in 2021.
Shareholders of Afriland Properties Plc have approved a total dividend dividends payout of N137.4 million dividend recommended by the company’s board of directors.
The approval was given at the company’s 10th Annual General Meeting which took place at The Transcorp Hilton Hotel, Abuja.
The real estate company had proposed a dividend of 10 kobo per ordinary share for the financial year ending December 31, 2022, amounting to a dividend payment of N137.4 million, which was to be ratified by shareholders at the company’s Annual General Meeting (AGM).
What the company said
While addressing the shareholders, the Chairman of Afriland Properties Plc, Emmanuel Nnorom, said that despite strong economic headwinds, the company is focused on delivering adequate returns to shareholders, while still growing its retained earnings.
He said the company recorded a strong operating performance, growing its revenue by 19% to N1.9billion from N1.6billion in 2021, while its Profit Before Tax (PBT) rose to N1.8billion from N1.6billion the previous year. The Company’s total assets equally grew by 12% to N19 billion from N17.3 billion in 2021.
Uzo Oshogwe, Managing Director/CEO of Afriland Properties Plc lauded the Company’s efforts in the past year, acknowledging the efforts of staff as well as support from the Board of Directors and shareholders as key success drivers.
- “This year is a special one for us as we celebrate our 10th anniversary. Over the years we have remained consistent in our promise to deliver and sustain value through people and projects. Our records speak to notable achievements in the real estate sector and we have remained resilient to record significant milestones.
- “In line with our growth strategy, we plan on commissioning some of our projects this year and believe they will bring real value to investors and stakeholders,” the CEO said.
Oshogwe also spoke on the company’s efforts to ensure environmental sustainability.
- According to her, “As part of our sustainability efforts, we have focused on increasing efficiency and reducing emissions, our steps to accomplish this include partnering with a recycling organisation to recycle our plastic waste and measure what we generate and recycle each year.”
What shareholders said
National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude attributed the success of the company to the hard work, dedication, and purposeful leadership of the Board and Executive Management of Afriland Properties Plc.
He expressed delight about the financial performance of the company highlighting increased revenue, and earnings per share as a positive development.
What you should know
Afriland Properties Plc is a property management, investment, and development company, offering end-to-end services across the real estate value chain, from management to joint-venture investments.
Sources: Nairametrics
