Julius Berger Shareholders Agreed N2.00 Dividend At The Annual General Meeting

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Ankara Styles For Slim Ladies: Top 5 Looks You Must Try! (Pictures)

Today’s fashion of Nigeria shows off plenty of Ankara styles for slim ladies, that will help them to create a...
- Advertisement -
- Advertisement -

The shareholders of Julius Berger Plc has signed N2.00 dividend at the company’s Annual General Meeting (AGM) on Thursday in Abuja.

The chairman of Julius Berger, Mr Mutiu Sunmonu said that the company has seen reasons to demonstrate its commitment to the shareholders in the light of the monumental successes recorded and so declared a dividend of N20.00 per N0.50 share.

According to him, “The company remains uniquely positioned as Nigerian’s most reliable construction company, capable of unfailingly delivering higher quality and innovative solutions for even the most challenging of projects.

“The company will persist in implementing it’s long,- term diversification strategy regarding the client mix and business areas. Opportunities in new segments will vigorously be explored, with emphasis on prospects borne out of the Group core competencies and expertise”.

The chairman also affirmed that Julius Berger would continue to stand apart as it’s quality standard has been meticulously maintained, which informed the successful recertification of the company’s Quality Management System to meet the updated standard specifications of the International Organization for Standardization’s ISO  9001:2015.

Read:  ‘PR’s global growth set to surge beyond 2020’ – ICCO World PR Report 2020

He, however, pointed out some macroeconomic policies challenges that impacted negatively on the company operations and construction sector, ranges from unsubstantiated lateness in the yearly budget passage of the federal budget, ineffective implementation, inconsistent and unpredictable releases of schedules for capital expenditure, all which negatively impacted on the company’s Cash flow and profit.

Other similar policies the chairman outlined includes undue losses from induced utilization of bank’s overdrafts to leverage unavoidable gaps all which substantially mutilated the company profits.

Sunmonu, however, remained optimistic that the current company’s forecasts and possible external market influences inculcated in its 2019 performance planning will attract upward adjustment to leverage anticipated incremental growth rate.

Read:  JULIUS BERGER NIGERIA PLC: One-Off Incomes Buoy Return To Profitability

The leading International Construction Company in Nigeria had declared N10.2 billion profit before tax and  N7 billion net profit during its 2018 operations in Nigeria compare to N4.7 billion in 2017.

According to the chairman, the Group profit before tax (PBT) of N10.2 billion in 2018 recorded an impressive 172.7 per cent increase over the N3.7 billion in 2017 financial year, just as the construction company alone also posted N6.6 billion at 472.4 per cent increase above N1.2 billion in 2017.

Read:  Kenya is king of domestic air travel in Africa

While the Group net profit of  N7 billion profit in 2018 far exceeded N4.8 billion in 2017 by 46.5 per cent, the giant construction company alone posted an impressive net profit of N4.8 billion above that of N400 million at over a thousand per cent increase in this financial year.

The Financial Statement, however, showed the Group’s tax liability of N4.2 billion and N1.2 billion for the 2018  and 2017 financial year respectively, while the construction giant alone incurred a tax obligation of N2.1billion and N1.2 billion for 2018 and 2017 financial year.

The highlights of the presentations of the 2018 Annual Financial Statement were the dividend declaration of N2.00 per N0.50 share, the appointment of Auditors and fixing their remuneration, the reappointment of 13 directors on board of the company and re-election of three members on the statutory audit committee, which includes, Engr. Heinz Stockhausen, Dr Ernest Nnaemeka Azudialu Obiejesi and Mt. George Marks respectively.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Taraba Launches Highland Tea In Lagos Market

The Mambilla Beverages Nigeria Limited, a subsidiary of the Taraba Investment and Properties Limited (TRIP) has unveiled Highland Tea...

LSACA Sensitizes Deaf And Blind Communities On HIV Prevention

The Lagos State AIDS Control Agency (LSACA) has commenced a sensitisation programme for about 250 members of the Deaf and Blind communities in Lagos...

BJAN Conference: Speakers Proffer Solution On Companies’ Survival In Harsh Economy

Speakers at the seventh edition of the Brand Journalists Association of Nigeria (BJAN) conference 2019 with the theme Survival Amidst Harsh Economy: Inside Stories...

Makro’s Customers Now Engage And Experience Instant Customer Care By Connecting With The Retailer Directly On WhatsApp

Makro announced today shoppers at its 22 South African outlets and busy online store will now experience instant customer care and service by directly...

More Articles Like This