Red Star Express plc, one of the leading logistics company in Nigeria, is set to hold its 21st annual general meeting (AGM) on Thursday, August 14, 2014. The board of directors will recommend a total of N206 million dividends payment to the shareholders for approval at the AGM for the year ended March 31, 2014.
The dividend, which is 35 kobo per 50 kobo share, if approved, will be posted on August 25, 2014, to all shareholders, whose names appear on the company’s register by close of business on July 25, 2014.
Red Star Express, the foremost provider of value added logistics solutions that are secure, prompt and effective, will utilise the platform to interface with the shareholders and present its annual report on the affairs of the company, its subsidiaries (the Group) as well as the consolidated audited financial statements for the year ended March 31, 2014. It will be a cherry AGM for Red Star shareholders, as the company’s revenue grew from N5.293 billion in 2013 to N6.416 billion in the year under review.
Sule Umar Bichi, managing director, said the company had been consistent in paying dividends to shareholders in the last six years, when its shares were listed on the Nigerian Stock Exchange.
Also at the AGM, Sonny Allison and Olayemi Peters, both non-executive directors, will retire and offer themselves for re-election. While the board’s appointment of Koguna Sulaiman Lawan and Ogbechie Chris Ike as non-executive directors on June 26, 2014, will be presented to the shareholders for approval.
The company was established with excellence in mind – to be the best service-driven logistics solutions company. The company has offices across the nation and provides transportation, warehousing and other supply chain management services that are secure and effective through developing and retaining well-motivated, team-oriented workforce that shares common ideals and values.
Red Star is a licensee of FedEx, the world leading air express company with over 650 aircrafts and more than 250 delivery destinations worldwide.
The company was incorporated in Nigeria under the Companies and Allied Matters Act on July 10, 1992, and commenced business on October 12, 1992. Red Star Express became a public company on July 9, 2007, and subsequently listed its shares on the Nigerian Stock Exchange on November 14, 2007.
