Julius Berger Nigeria Plc, has rewarded its shareholders with a total gross dividend payout of N5.2 billion, amounting to N3.25 per 50 kobo ordinary share.
The company assured shareholders of improved future performance and sought their continued support.
Speaking at the company’s 55th Annual General Meeting, AGM, the Chairman, Engr. Goni Sheikh, stated: “The company has announced a total gross dividend payout of N5.2 billion to shareholders, amounting to N3.25 per 50 kobo ordinary share.
Though the Julius Berger Group’s financial results continue to be heavily affected by persistent inflation, currency devaluation, and high lending rates—which have led to rising construction costs—coupled with security challenges and unrest in certain parts of the country, the company will continue to mitigate risks and ensure steady operations.”
He added: “With Julius Berger’s dedication to efficiency, the strength of our strategic partnerships, and our unrelenting hard work, we will continue to remain resilient amidst the numerous challenges we face, maintaining our industry leadership and delivering on our commitments satisfactorily.”
In his address to shareholders, the Managing Director, Dr. Peer Lubasch, noted that since assuming office a few months ago, the company has successfully navigated the headwinds in its line of business.
He said: “While the future holds many unknowns, we remain certain that no matter the challenge, Julius Berger will continue to be defined by excellence and innovation, and will operate in a sustainable manner that aligns with our ethos and values, in line with global standards.
The broader socio-economic environment continues to present significant challenges, shaped by a range of persistent and compounding pressures such as currency devaluation, ongoing foreign exchange scarcity, escalating construction costs, surging inflation, increased fuel prices, high lending rates, global market uncertainties, and domestic security concerns.”
Shareholders demonstrated their support by overwhelmingly passing all the board’s resolutions, including the approval of dividends, appointment of new executive directors, appointment of a new non-executive director, and the re-election of some existing directors.
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