Afriland Properties Proposes N178.6m Interim Dividend

Afriland Properties Plc has declared an interim dividend of N178.6 million for the half-year ended June 30, 2024.

The real estate investment and development company with a portfolio valued at over N14 billion said it has continued to demonstrate its resilience and commitment to creating value.

Afriland stated that its Board of Directors had approved an interim dividend of 13 kobo per share, amounting to a total payout of N178.607 million to its shareholders, saying that this decision highlights the company’s resilience hinged on its diversified portfolio of investments and offerings.

Managing director of Afriland Properties, Uzo Oshogwe stated that, “Afriland Properties remains dedicated to leveraging innovative strategies to drive long-term growth while offering end-to-end services across the real estate value chain. This interim dividend payment reflects our obligation to enhance shareholder value, which remains core to our strategy.”

Earlier this year, Afriland Properties reported a remarkable 150 per cent increase in its full-year dividend payout to shareholders at its 2023 Annual General Meeting, further underscoring its commitment to delivering exceptional value.

Oshogwe added that “Afriland Properties has new landmark developments in Abuja and Lagos to meet the growing demand for high-quality homes and commercial spaces. These efforts aim to reinforce the company’s position as a market leader in the Nigerian real estate sector and ensure sustainable returns for all stakeholders.”

Afriland Properties is a property management, investment, and development company offering end-to-end services across the real estate value chain. The company is dedicated to improving lives through the development, management, and maintenance of world-class real estate offerings across Africa. With a portfolio valued at over N14 billion and one of the largest land banks in Nigeria, Afriland is pioneering the institutional approach to real estate, serving niche markets throughout Africa.