• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 7, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Shareholders Laud IMG Over 40kobo Dividend

by Olushola Bello
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Shareholders of Industrial and Medical Gases Nigeria (IMG) Plc, have extolled the board and management of the company over exemplary performance and delivery of brand promise, despite the inclement operating environment.

Advertisement

The profit before tax of the manufacturer of industrial and medical gases grew by 27.56 percent to N704 million in December 2022, as against N552 million in the corresponding period in 2021 while its earnings per share stood at 90 kobo, compared to 89 kobo in the previous year. The net profit shoot up by 20.52 percent to N448 million from N372 million in 2021.

As a demonstration of its consistency in delivering on shareholder value, the board rewarded the shareholders with a cash dividend of N208.122 million for 2022 financial year, which translates to 40 kobo per share.

Speaking on the company’s performance at its 64th Annual General Meeting (AGM) held in Lagos, the president, Noble Shareholders Association of Nigeria, Mathew Akinlade, commended the board, management and staff of IMG for an outstanding performance despite the issues of inflation, forex scarcity, insecurities and other challenges that impacted business in the review period.

The acting chairman of IMG, Mr. Aminu Ado, assured the shareholders that the company would embark on revenue generating capital expenditure to boost its earnings in 2023.

RELATED

Kano Govt Renames KUST After Dangote

Dangote Sees Growth In Export Of Refined Products With $1.35Bn Afreximbank’s Deal

13 hours ago
Egbin Power Advances Energy Transition Drive, Appoint New CEO

‘Egbin Power Plc, Ikeja Electric, FIPL Not In Receivership’

13 hours ago

“The year 2022 was challenging but successful year for us. Our superior performance was made possible by the collective efforts of all our stakeholders. 

In the year 2023, your board will continue to support management’s drive on aggressive marketing of its products, improvement service delivery, reduction of overheads, developing new markets and introduction of new and innovative products. 

“These activities, we believe will back-up management’s drive to sustain and improve shareholder value in 2023,” Ado assured. 

The managing director and chief executive officer of IMG, Mr. Ayodeji Oseni, explained that, some of the key drivers of the impressive performance were implementation of strategic business and other initiatives.

“We place a high premium on strategic business development initiatives and we are a customer-focused organisation. Our operations are based on integrated marketing and selling solutions in the marketplace. The adoption of a deliberate cost reduction policy and focused improvements in our processes is to ensure that plant capacity utilisation play a major role in our performance. 

“We value our staff and constantly empower them in addition to ensuring continuous improvement in our internal efficiencies across the business,” said Oseni.

The company had, in 2021, rebranded (from BOC Gases Nig. Plc) to her new name and brand, Industrial & Medical Gases Nigeria Plc and developed a blueprint to strengthen its global competitiveness on a sustainable basis, irrespective of the nature of the operating environment. 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

UBA Offers Customers Unforgettable Treat With ‘Fun Summer’

Next Post

Twitter’s X Logo To Go Live Today

Olushola Bello

Olushola Bello

You May Like

Kano Govt Renames KUST After Dangote
Business

Dangote Sees Growth In Export Of Refined Products With $1.35Bn Afreximbank’s Deal

2025/08/07
Egbin Power Advances Energy Transition Drive, Appoint New CEO
Business

‘Egbin Power Plc, Ikeja Electric, FIPL Not In Receivership’

2025/08/07
NIMR Faces Power Outage Over ₦38m Debt
Business

Nigeria’s Power Market To Hit $503.67m By 2030 – Report

2025/08/07
FAAN Signs Capacity Building MoU With Dubai-based Firm
Business

Expansion Of Terminal 2 Part Of Airport Renovation – FAAN

2025/08/07
Niger/Kogi Customs Seize Car, Others Worth N755m
Business

Ahead Of Take-off, Customs Engage Importers, Operators On AEO Migration

2025/08/07
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Aviation Workers Ask Tinubu To Cancel Airport Concessions Nationwide

2025/08/07
Leadership Conference advertisement

LATEST

BBNaija10: Danboskid, Joanna Emerge King, Queen Of Extract Beauty Pageant

Ghana’s President Appoints Acting Ministers After Helicopter Crash Claimed Cabinet Members

JUST-IN: NCAA Petitions AGF, IGP To Probe Singer KWAM 1, ValueJet Over Airport Incident

Sowore’s ‘Maltreatment’ By IGP’s Monitoring Team Shameful — Atiku

UK To Clamp Down On Dangerous Cosmetic Procedures, BBL

Supporters Claim Sowore’s Hand Broken As Activist Spends Day 2 In Police Cell

FCT Minister Reaffirms Commitment To Strengthen Health Services

13-Man AFRIMA Jury Arrives Nigeria

INEC Introduces Online Platform To Identify Registration Centres

Navy Destroys 71 Illegal Refining Sites In July

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.