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Published On: Tue, Apr 1st, 2014

NSE: NAHCO proposes 30k dividend per share

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By Etuka Sunday

…Ups revenue to N8.1bn

The Nigerian Aviation Handing Company Plc- NAHCO Aviance- has announced a proposed dividend of 30kobo per share in its 2013 financial year result released to the Nigerian Stock Exchange (NSE).

The company, in 2013 grew its revenue from N7.4billion to N8.1billion, while earnings per share rose by 34 percent from 48kobo to 64kobo per share. Profit Before Tax Jumped from N853million to N1.1billion, an increase of 32 percent.

The statement signed by NAHCO’s Chief Finance Officer- Chinwe Chiji-Nnorom -attributed the strong performance to cost containment strategies adopted in the year and to revenue increase which was as a result of the previous year’s investment in cargo modernization programe.

The statement said the proposed dividend of 30k per share reflects a dividend yield of 6 percent which compares favourably with recently declared results of publicly quoted companies.

At the 2013 Annual General Meeting in Abuja, NAHCO’s Group Chairman Suleiman Yahyah explained to shareholders that ‘NAHCO will begin to reap the benefits of its expansion, modernization and Africanization policy as from 2013.’

Recently, NAHCO obtained a license to operate a Free Trade Zone in Lagos and has registered its operations in Liberia, Senegal and Cote d Ivoire pursuant to its diversification strategy.

 

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