Transcorp Hotels to pay N1.14bn dividend

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The shareholders of Transcorp Hotels Plc have approved the N1 . 14 bn dividend payment proposed by the company for the 2018 financial year .

The company said in a statement that the payment was approved at the Annual General Meeting in Abuja .

It said the final dividend translated to 15 kobo per ordinary share, which was a 20 per cent improvement over the 12 kobo per ordinary share for 2017 .

The Chairman , Board of Directors , Mr Emmanuel Nnorom, said , “ Transcorp Hotels has exceeded the bar with an impressive turnover of N17 . 4 bn from N 13 . 8 bn recorded in 2017 , representing an improvement of 26 per cent .

“ This is an unprecedented achievement in the history of the company . 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 . ”

He also thanked the shareholders for their continued support and faith in the board and management of the company .

The President, New Dimension Shareholders Association, Mr Patrick Ajudua , described Transcorp Hotels as an embodiment of what privatisation in Nigeria should be .

He said the good corporate governance and the presence of a focused management team that was concerned with giving returns to shareholders were some underlying factors behind the company ’ s continued success .

The Managing Director / Chief Executive Officer , Transcorp Hotels , Mrs Owen Omogiafo , reiterated the company ’ s commitment to quality and global standard customer experience .

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 .

“ Transcorp Hotels will continue to leverage its unique value proposition and proven strategies to exceed 2018 performance . ”

She added that growth and efficiency , underpinned by a strong culture of service excellence and cost optimisation , would drive the company in the current year and beyond .

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