Afriland Properties shareholders approve N137m dividend for 2022

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By Ginika Okoye

The shareholders of Afriland Properties Plc, a property management and investment company, have approved a total of dividend of N137 million for the financial year ended Dec. 31, 2022.

The company said this in a statement on Tuesday after its10th Annual General Meeting in Abuja.

The statement said that the company’s total revenue at the period stood at N1.9 billion representing a 19 per cent increase from N1.6 billion earned during the corresponding period in 2021.

The company said it was focused on delivering adequate returns to shareholders, while still growing its retained earnings.

The company also said that its profit before tax rose to N1.8 billion from N1.6 billion achieved in the previous year.

The company’s total assets grew by 12 per cent to N19 billion from N17.3 billion in 2021.

It said that the shareholders expressed delight about the financial performance of the company highlighting increased revenue, and earnings per share as a positive development.

According to the company, the shareholders attributed the successes of the company to hardwork, dedication, and purposeful leadership of the Board and Executive Management of the company.

”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,” it said.

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The statement quoted the Managing Director/Chief Executive Officer, Mrs Uzo Oshogwe, as saying that the company would remain committed to enhanced return to shareholders.

Oshogwe 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,” Oshogwe said.

The News Agency of Nigeria (NAN) reports that the company is a property management, investment, and development company, offering end-to-end services across the real estate value chain.

It has a portfolio size of over N12 billion and one of the largest land banks in the country. (NAN)(www.nannews.ng)

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Edited by Chinyere Joel-Nwokeoma

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