Afriland Properties Shareholders Approve N137.4m Dividend Payout

Shareholders of Afriland Properties Plc have approved the board’s proposal to pay a sum of N137.4 million as total dividends payout for the year ended December 2022.

The shareholders gave their approval at the 10th Annual General Meeting of the company held in Abuja.

Speaking to shareholders, the chairman, Afriland Properties, Emmanuel Nnorom stated that the company is focused on delivering adequate returns to shareholders, while still growing its retained earnings.

He said the company recorded a strong operating performance, growing its revenue by 19 per cent to N1.9 billion from N1.6 billion in 2021, while its profit before tax rose to N1.8 billion from N1.6 billion the previous year. The Company’s total assets equally grew by 12 per cent to N19 billion from N17.3 billion in 2021.

The shareholders, in turn, expressed delight about the financial performance of the company highlighting increased revenue, and earnings per share as a positive development.

National coordinator, Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude attributed the success of the company to the hard work, dedication, and purposeful leadership of the Board and Executive Management of Afriland Properties Plc.

Also, the managing director/CEO of Afriland Properties, Uzo 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.

She pointed out that having a healthy financial statement in a year of significance for the company was appropriate, saying, “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.”

Oshogwe added that, “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.”

She noted further that, “as part of our sustainability efforts, we have focused on increasing efficiency and reducing emissions. Our steps to accomplish this include partnering with a recycling organisation to recycle our plastic waste and measure what we generate and recycle each year.”