Afriland Properties Plc’s shareholders have approved N137.4m dividend payout for the 2022 financial period.
The real estate firm disclosed this in a statement on Tuesday. It said the Chairman, Afriland Properties Plc, Emmanuel Nnorom, presented its results to the shareholders at its 10th annual general meeting in Abuja.
Afriland said that despite strong economic headwinds, it reported an upward trend for the financial year ending 31st December 2022.
It reported that its total revenue rose by 19 per cent to N1.9bn in 2022 from the total revenue of N1.6bn earned during the corresponding period in 2021.
The firm also said its profit before tax rose to N1.8bn from N1.6bn the previous year, while the company’s total assets grew by 12 per cent to N19bn from N17.3bn in 2021.
It noted that the shareholders commended the group for its performance in the year under review.
According to the statement, the National Coordinator, Independent Shareholders Association of Nigeria, Moses Igbrude attributed the success of the company to the hard work, dedication, and purposeful leadership of the board and executive management of Afriland Properties.
The Managing Director/Chief Executive Officer of Afriland Properties, Uzo Oshogwe, lauded the company’s efforts in the past year.
Oshogwe acknowledged the efforts of staff as well as support from the board of directors and shareholders as key success drivers.
The real estate CEO said that having a healthy financial statement in a year of significance for the company was appropriate.
She stated, “This year is a special one for us as we celebrate our 10th anniversary. Over the years we have remained consistent in our promise to deliver and sustain value through people and projects. Our records speak to notable achievements in the real estate sector and we have remained resilient to record significant milestones.”
Speaking on the company’s efforts to ensure environmental sustainability, Oshogwe said, “As part of our sustainability efforts, we have focused on increasing efficiency and reducing emissions.