Shareholders of Transcorp Hotels Plc will receive a dividend of N2.048 billion for the financial year ended December 2023, representing a total dividend of N0.20 kobo per share declared by the Board of Directors of the company.
The Board of Directors of Transcorp Hotels Plc has in pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria recommended a dividend of 20 kobo per share for the financial year 2023.
This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by the Nairametrics.
Subject to shareholders approval: According to the company, the dividend is subject to the appropriate withholding tax and will be paid to shareholders whose names appear in the Register of Members as at the close of business on 15th of April 2024
This will be presented at the next Annual General Meeting for Shareholders ratification and approval.
The statement signed by the company noted that on April 30, 2024, cash dividend will be paid electronically to shareholders (Qualifying Shareholders) whose names appear on the Register of Members as at close of business on 15 Aril 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Advice to shareholders: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.
Nairametrics reported that Transcorp Hotels Plc has reported a profit before tax of N9.412 billion for the year ended 31 December 2023.
According to the financial statements reviewed by Nairametrics, Transcorp Hotels reported revenue of N42.701 billion, a 35.81% increase from the N31.442 billion reported the year prior.
A significant portion of this revenue was from room sales, which constitutes about 64% of total revenue.
RANSCOHOT emerged as one of the top-performing stocks on the NGX in 2023, boasting a share price appreciation of 1.023% YtD.
This year, the stock closed the most recent trading session at N97.90, bringing the YtD gain to 39.5% and rejoined the SWOOT category.