Board of Directors of Nigerian Aviation Handling Company Plc, NAHCo has recommended a dividend payment of N406 million for the year ended December 31, 2017.
The dividend, which translates to 25 kobo per share, is expected to be approved by shareholders at the forthcoming Annual General Meeting (AGM).
The company recorded a turnover of N7.926bn in 2017, compared with N7.956bn in 2016. Finance cost was reduced from N545m in 2016 to N213m in 2017, while Profit After Tax stood at N776m in 2017, from N581m in 2016.
The bottom-line showed an increase of 34 per cent. Earnings per share improved from 36 kobo to 48 kobo. Thus, the board of directors recommended a dividend payment of 25 kobo, which is higher than the 22 kobo paid the previous year.
Chairman of NAHCo, Usman Arabi Bello, had informed the shareholders that in spite of the recession and global weakness in the aviation sector, the company’s performance was commendable.
