Shareholders of Chams Plc have approved the payment of N141.8m as dividends for the 2018 financial year.
The approval was given at the company’s 35th Annual General Meeting in Lagos on Tuesday after the company assured its shareholders of enhanced returns on their investments in the coming year.
Chams recorded a profit after tax of N380m in 2018, compared with a loss of N1.27bn in 2017, which brought about the declaration of dividends of three kobo per share.
The Chairman, Chams, Dr Dere Awosika, stated that the company had been well-positioned to enhance shareholders value as a result of the successful restructuring of its books, which laid a solid foundation for its performance and competitiveness.
She said the company was leveraging restructuring of its balance sheet to expand income stream, boost performance indicators and sustain a competitive edge.
Awosika said, “We plan to consolidate on the progress made from the successful restructuring of our balance sheet, which has helped to lay the foundation for better performance for the company, improve its competitiveness in the Information and Communication Technology sector and improve the potential of the company to pay dividends.
“There are more opportunities for effective and efficient implementation of the company’s growth strategy. We are marching forward in the year with confidence and optimism, knowing full well that our businesses have been strategically positioned to take advantage of key opportunities as we stay on course in the execution of our growth strategy.
The Group Managing Director/Chief Executive Officer, Mr Femi Williams, stated that the company’s restructuring paid off as reflected in its financial performance for 2018, despite the setback of the previous year.
Williams said, “The improvement in our bottom line and the advancement in profit and capital is an attestation to the credibility of our commitment and our business model.”
Source : The Punch Newspaper