NAHCO Shareholders Ratify N324.8million Dividend

Shareholders of the Nigerian Aviation Handling Company Plc, NAHCO Aviance, have approved the dividend declared by the board and management of the company for 2015 financial year.

Speaking at its 35th Annual General Meeting, AGM, in Abuja on Tuesday, July 26, the shareholders said while most companies are now posting losses, NAHCO Aviance was able to record an impressive turnover and growth in assets.

The company’s turnover jumped from N8.1billion in 2014 to N8.5billion in 2015; while its Profit Before Tax(PBT) increased from N769.5million in 2014 to N796.8million in 2015.

The shareholders also approved dividend payouts of N324.8million at 20kobo per ordinary share of 50kobo less withholding tax for the financial year ended 31st December 2015.

Speaking at the AGM, National Coordinator of the Independent Shareholders Association of Nigeria, Sir Sunny Nwonsu said: “Today we have seen the usefulness of right thinking and focus by the chairman and the board. We are happy with the 20k dividend.”

The Chairman of Shareholders’ Trustees Association of Nigeria, Otunba Mukhtar Mukhtar said despite the difficulty being experienced by many companies in Nigeria and with over 40,000 flight cancellations, it is commendable that the chairman of NAHCO Suleiman Yahyah and the board succeeded in growing the company’s earnings.

Chairman of the Shareholders Association of Nigeria, Onitsha Zone ,Bishop Okpere said he and his association have always been pleased with Mr Suleiman Yahya-led board.

Other shareholders who spoke about the board and the management include: Sir Shola Abodunrin from Ibadan and Mr. Taiwo Aderinde among several other shareholder associations.