Afriland Properties Plc, a Nigerian real estate development and management company, has delivered another year of outstanding financial results paying out 63 kobo dividend to its shareholders.
The company paid a total dividend of N865.56 million, equivalent to 63 kobo per ordinary share, a 152 percent increase from the N343.5 million paid out in the previous year.
The growth the company said is reinforcing its reputation for consistent growth and value creation amid a challenging economic climate.
For the financial year ended December 31, 2024, the company recorded a Profit Before Tax (PBT) of N3.7 billion, representing a 53 percent increase from the N2.41 billion reported in the previous year.
Profit After Tax (PAT) also rose by 51 percent to N2.6 billion, while Operating Profit climbed by 47 percent to N3.5 billion, reflecting sustained momentum in project development, project management, rental income, and revaluation gains on investment properties.
Emmanuel Nnorom, chairman of the Board disclosed the results at its 12th Annual General Meeting (AGM), held virtually in Lagos, describing the company’s performance as a reflection of strategic clarity and execution discipline.
“Afriland’s exceptional 2024 financial year was driven by deliberate execution and disciplined growth. These results speak to the strategic initiatives implemented throughout the year and the relentless efforts of our management team.
“We scaled operations across core business areas, enhanced asset value, and delivered meaningful returns despite macroeconomic headwinds. This performance underscores our commitment to shareholder value and long-term sustainability.”
Also commenting on the results, Azubike Emodi, managing director/CEO, attributed the strong performance to operational efficiency and team excellence while expressing confidence in the company’s future direction.
Read also: Afriland Properties appoints Azubike Emodi as MD/CEO
“These numbers clearly demonstrate the strength of our business model and the dedication of our team. We are sharpening our execution, accelerating project turnaround, and deepening market relevance through smart, scalable developments.
A prime example is Afriland Estate, Karmo; a thoughtfully designed residential community in Abuja. It embodies our capability to deliver modern, efficient, and sustainable living environments aligned with Nigeria’s evolving housing needs.
“As we look ahead, we’re focused on unlocking new opportunities across the real estate value chain, and our project pipeline reflects this ambition.”
Shareholders at the AGM expressed satisfaction with the company’s outstanding results and the significantly enhanced dividend payout. They commended Afriland’s execution of key developments and warmly welcomed the appointment of.
Emodi as the new MD/CEO, expressing confidence in his ability to steer the company into its next growth phase. The meeting reaffirmed their trust in the Board’s strategic direction and the management’s operational excellence.
Afriland Properties Plc continues to demonstrate industry leadership, leveraging innovation, strategic partnerships, and a commitment to sustainability to unlock long-term value for its stakeholders.
Afriland Properties Plc is a property management, investment, and development company, offering end-to-end services across the real estate value chain; improving lives by investing in the development, management, and maintenance of world-class Real Estate offerings across Africa.
With a portfolio size of over N20 billion and one of the largest land banks in Nigeria, Afriland is pioneering the opportunities presented by an institutional approach to real estate, serving niche markets throughout Africa.
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