Transcorp Hotel Shareholders Approve N1.14bn Dividend for 2018

Transcorp photographs

R-L: Chairman, Transcorp Hotels Plc, Mr. Emanuel Nnorom; Managing Director/CEO, Mrs Owen Omogiafo; and Executive Director, Ms Okaima Ohizua; at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on Friday. (PHOTO CREDIT: Ade Olulana)

Ade Olulana

Shareholders of Transcorp Hotels Plc, have approved a final dividend of N1.14 billion for the 2018 financial year. The final dividend which represents 15 kobo per ordinary share, is a 20% improvement over the 12 kobo per ordinary share paid for 2017.

They also praised the Company for its impressive financial results for the year ended December 31, 2018. The company in its 2018 financial results reported a 26% increase in turnover, of N17.4 billion from N13.8 billion recorded in 2017.

Speaking on behalf of the New Dimension Shareholders Association, its president, Patrick Ajudua, at the company’s 5th Annual General Meeting, which took place at the Congress Hall of the iconic Transcorp Hilton, Abuja, said that Transcorp Hotels Plc is an embodiment of what privatisation in Nigeria should be.

He further stated that good Corporate Governance and the presence of a focused management team who are concerned with giving returns to shareholders are some underlying factors behind the company’s continued success.

According to Emmanuel N. Nnorom, Chairman of the company’s board of directors, the Company’s growth milestones is an unprecedented achievement in the history of the Company.

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“It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality,” the Chairman said while thanking the Shareholders for their continued support and faith in the Board and Management of the Company.

Owen Omogiafo, Transcorp Hotels managing director/CEO, reiterated the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company.

She said “We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.”

On the prospects for 2019, Omogiafo noted that “Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.”

She further said that growth and efficiency underpinned by a strong culture of service excellence and cost optimization will drive the company.

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