By Dipo Olowookere
It was an exciting moment on Monday, April 17, 2023, for shareholders of Afriland Properties Plc at the company’s Annual General Meeting (AGM) held at the Transcorp Hilton Abuja.
At the yearly shareholders’ gathering, the 10th this year, the board was authorised to pay N137.4 million as dividends for the 2022 financial year, translating into 10 Kobo for each stock held by investors.
They lauded the board and the management of Afriland Properties for posting a strong financial performance despite the tough economic headwinds in the year under consideration.
One of the shareholders, Mr Moses Igbrude, who doubles as the national coordinator of the Independent Shareholders Association of Nigeria (ISAN), attributed the success of the leading indigenous property management, investment, and development company to the hard work, dedication, and purposeful leadership of the board and the executive management of the firm.
Business Post reports that last year, Afriland Properties reported a 19 per cent growth in revenue at N1.9 billion versus N1.6 billion in 2021, while the pre-tax profit grew to N1.8 billion from N1.6 billion, with the company’s total assets at N19.0 billion versus N17.3 billion in 2021.
While addressing shareholders at the meeting, the Chairman of Afriland Properties, Mr Emmanuel Nnorom, emphasised that the company was focused on delivering adequate returns to shareholders while still growing its retained earnings.
On her part, the Managing Director/CEO of Afriland Properties, Mrs Uzo Oshogwe, acknowledged the efforts of staff as well as support from the board and shareholders for the strong performance of the real estate firm.
Speaking further, she said, “This year is a special one for us as we celebrate our 10th anniversary. Over the years, we have remained consistent in our promise to deliver and sustain value through people and projects. Our records speak to notable achievements in the real estate sector and we have remained resilient to record significant milestones.”
“In line with our growth strategy, we plan on commissioning some of our projects this year and believe they will bring real value to investors and stakeholders,” she added.
“As part of our sustainability efforts, we have focused on increasing efficiency and reducing emissions. Our steps to accomplish this include partnering with a recycling organisation to recycle our plastic waste and measure what we generate and recycle each year,” Mrs Oshogwe noted.
Afriland Properties Plc is a property management, investment, and development company, offering end-to-end services across the real estate value chain, from management to joint-venture investments.
With a portfolio size of over N12 billion and one of the largest land banks in Nigeria, Afriland Properties is pioneering the opportunities presented by an institutional approach to real estate, serving niche markets throughout Africa.
