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54th AGM: Berger approves N4.8bn gross dividend payout to shareholders 

Leading engineering construction company, Julius Berger Nigeria Plc is paying out a gross dividend of N4.8 billion to shareholders even as the company is determined to maintain its position as a leader in corporate Nigeria.

Chairman of the Board of Directors, Mr. Mutiu Sunmonu, at the company’s 54th Annual General Meeting, held in Abuja, said: “Though we have endured formidable challenges, our Company’s financial performance and resilience for the year 2023 was exceptional, resulting in yet another record-breaking year following the highly successful outcomes of 2022.”

Stressing that a greater scenario is projected to play out in the current financial year, the chairman disclosed that “the Board of Directors is pleased to recommend a dividend of N3.00 per 50 Kobo ordinary share, resulting in a total gross dividend payout of N4.8 billion.”

He said the pressures were magnified by the 2023 general election lulls, administrative transition periods, and policy shifts at both the state and federal levels, adding: “thanks to forward-looking cost management, strong contracts management and unmatched efficiencies in procurement, our Company’s financial results have remained largely in line with planning, while earnings before taxes improved.

Speaking in the same light, the Managing Director, Engr. Dr. Lars Richter said the company will continue to prevail as a partner for progress in spite of the challenging operating environment.

He said, with greater challenges come greater zeal to thrive for the company and the country, Nigeria.

According to him, “We will continue to evolve business continuity measures while adjusting to the challenges in the operating environment,” he said noting that, “the challenges may be unprecedented, may be tough; but there is no doubt that Julius Berger will continue to prevail as a partner for progress.”

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