Transcorp Hotels Plc has announced
a profit after tax of N4b at its 3rd Annual General Meeting which took place at
Transcorp Hilton Abuja.
At the meeting, the Shareholders of Transcorp Hotels
Plc commended the management and staff
of the Company for recording a strong financial and operational performance in
the financial year ended 31st December 2016, with improvements across all
indices despite the economic recession which took a hefty toll on hospitality
businesses generally.
The shareholders also gave the
commendation at the 3rd Annual General Meeting of the company held at Transcorp
Hilton Abuja on Wednesday March 15, 2017, attributing the feat to the quality
of Transcorp Hilton Hotel as the leading hospitality destination in Nigeria.
They also described the management of the Company as visionary and dedicated,
as demonstrated by the Hotel’s constantly improving quality of service.
The shareholders unanimously
approved the board’s recommendation of a final dividend of 40 kobo per share,
stating that they are confident that as the company continues to make progress,
it will not relent in meeting their expectations.
Speaking on behalf of the
shareholders, Mr. Boniface Okezie, chairman, Progressive Shareholders
Association of Nigeria (PSAN), expressed appreciation to the company’s board
and management for paying dividend at a period when the country’s economy is in
dire straits, leading to significant drop in hotel occupancy.
He said, “At a time when a lot of
companies prefer to cut dividend with a ready excuse in the current state of
the economy, we are delighted that our Company has paid dividend which will go
a long way in meeting our financial needs”.
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