Haldane McCall Shareholders Approve N220.6m Dividend, Capital Raise Plan

Shareholders of Haldane McCall Plc have approved a final dividend of N220.6 million, representing seven kobo per share for the year ended December 31, 2024.

They gave their approval at the company’s first Annual General Meeting (AGM) after its listing on the Nigerian Exchange Limited (NGX). The shareholders also approved the company’s plan for capital raise through rights issue to increase its share capital and N250 billion debt instruments in tranches to fund its Group’s expansion programme.

Chairman of Haldane McCall, George Oguntade stated that, “the Company is committed to positively change the real estate development landscape in Nigeria and equally contribute its quota in supporting both State and Federal governments in bridging the massive housing deficit in the country. We will not rest on our laurels and with the support of all our partners and stakeholders, we will deliver a stronger performance next year.”

The shareholders commended the Company for the impressive financial performance recorded in the period under review. A shareholder, William Adebayo, particularly commended the declaration of dividends, which he described as a vital source of income for shareholders. Other shareholders showered encomiums on the company’s board and management.

Haldane McCall for the year ended December 31, 2024 recorded a 164 percent profit after tax from N256.96 million in 2023 to N679.6 million in 2024. The growth in profits was driven by increase in revenue and the management divestment in non-core business, which generated N20.82 million in the year under review.

Also, the company in 2024 declared N3.64 billion revenue, about 109 percent increase over N1.74 billion in 2023, primarily driven by N2.68 billion sale of land and building in 2024, up by 156 percent from N1.05 billion in 2023.