Despite economic downturn faced by most companies, shareholders of the Nigerian Aviation Handling Company (Nahco, Aviance) Friday said they were excited by the dividend payout of their company.
The Nahco Board approved 25kobo dividend per every ordinary share held at its 37th Annual General Meeting (AGM) in Transcorp Hilton, Abuja.
The shareholders under the aegis of Progressive Shareholders Association, as well as Independent Shareholders described as very impressive the scorecard for 2017, while urging the directors and management not to rest on the positive forecast for 2018.
Speaking to newsmen on the sideline of the meeting, the new Idris Yakubu, managing director/CEO said despite the harsh operating climate, the company remained strong and even more focused in 2018.
Yakubu revealed that Nahco’s subsidiaries “should begin to contribute hugely to the company’s performance in 2018 and beyond.”
He said the launching of the Nigeria Air will without doubt bolsters the revenue of Nahco, adding that it diversification and pan-Africanization plans were on top gears.
Nahco chairman, Usman Arabi Bello told shareholders at the AGM that: “It is on the basis of this result that we have proposed to you, dear shareholders, of the payment of N406million dividend, at 25 kobo per each ordinary share.”
He said during the period under review the company also grossed N7.93billion.
According to him, as part of management’s motivation strategy, 846 staffs were promoted in 2017, while increasing their salaries at the same time.
The chairman said following the resignation, last year, of the former MD/CEO Norbert Bielderman, Idris Yakubu was appointed as the new managing director,
On the outlook for 2018, the chairman said it intends to take the advantage of the country’s expected higher agricultural yield for its NAHCO Cargo export division, even as he announced that the diversification ventures were on track with the NAHCO Free Trade Zone moving to the second phase of development.
He also announced the appointment of Mallam Baba Yusuf as the new MD/CEO of NAHCO Free Trade Zone, stressing that 2018 begun on a bright note as the published Q1 result had been very good.
On their part, shareholders of the company were thrilled with the payment of 25kobo, saying few companies pay dividend given Nigeria’s economic challenges.
Representative of the Independent Shareholders Association of Nigeria, Igbrude Moses, said within a short time the chairman and the Managing Director have stabilized the company and placed it on the diversification trajectory.
In the same vein,. Okezie Boniface, who represented the Progressive Shareholders Association of Nigeria, said he was surprised that, despite the unfavourable business environment, the company was able to pay 25kobo dividend to shareholders.
He said the key to increased revenue yield was to diversify and as well strengthen Nahco’s subsidiaries.
Another top shareholder Faruk Umar suggested that there was the need to increase the numbers of women on the Board, even as he commended the new MD on the FTZ diversification strides.
Conrad Omodiagbe, Abuja
