Chairman, Transcorp Hotels Plc, Mr. Emanuel Nnorom; Managing Director/CEO, Mrs Owen Omogiafo; and Executive Director, Ms Okaima Ohizua; at the 5th Annual General Meeting of the company held at Transcorp Hilton Hotels Abuja on Friday

Transcorp Hotel Shareholders Happy With 15k Dividend Payout

By InsideBusiness Last updated Sep 19, 2020

The Shareholders of Transcorp Hotels Plc, have extolled the Company for the 15 kobo payout on its 2018 impressive financial results.

The amount which is 20 percent improvement on the 12 kobo dividend payout on ordinary share in 2017 follows the 26 percent increase in trunover recorded by the company in 2018.

Patrick Ajudua, President, New Dimension Shareholders Association said that Transcorp Hotels Plc is an embodiment of what privatisation in Nigeria should be. He further stated that good Corporate Governance and the presence of a focused Management team who are concerned with giving returns to shareholders are some underlying factors behind the company’s continued success.

Speaking at the Company’s fifth Annual General Meeting last weekend, its Chairman, Emmanuel N. Nnorom said the hotel has exceeded the bar with an impressive turnover of ₦17.4billion from ₦13.8billion recorded in 2017, representing an improvement of 26%. This is an unprecedented achievement in the history of the Company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.”

The Chairman also thanked the Shareholders for their continued support and faith in the Board and Management of the Company.

The Managing Director/CEO, Mrs. Owen Omogiafo reiterated the company’s commitment to quality and global standard customer experience, drawing on the varied international awards conferred on the Company. She said “We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.”

On the prospects for 2019, Mrs. Omogiafo noted that “Transcorp Hotels will continue to leverage on its unique value proposition and proven strategies to exceed 2018 performance.” She further said that growth and efficiency underpinned by a strong culture of service excellence and cost optimization will drive the company.