BusinessDay

Julius Berger pays N2.50k dividend, highest in 5 years

The Chairman of the Board of Julius Berger Nigeria PLC, Mutiu Sunmonu, has applauded the achievement of the construction giant even in the difficult times, even though the company had challenges in the 2021 financial year, it was able to keep faith with its loyal shareholders through high dividend payment.

According to him, the company did well and overcame the challenges by dint of hard work and unflinching commitment to success on the part of the management and staff of the company.

He spoke just as the Managing Director, Lars Richter, averred that the company was able to withstand the strong economic current that came with the tide in the year under review, as the company’s shareholders approved an N2.50k per share dividend.

Speaking at the 52nd Annual General Meeting of the company penultimate Saturday in Abuja, the Chairman presented the Consolidated Financial Statements of the year under review saying that within the period, Julius Berger Nigeria Plc performed positively despite the numerous macro-economic hiccups which affected businesses during the year.

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Sunmonu said, “the year 2021 has been largely positive, with many great accomplishments to reflect on”, forecasting with good confidence that “…this year 2022, we will continue to work hard, remain resilient and champion progress in regard to the potentials ahead of us. Furthermore, Sunmonu also said, “We do not underestimate the effort or the endeavour it will take to achieve our vision, but we also do not underestimate our collective diligence and determination.”

In his own address to shareholders at the AGM, the Managing Director, Lars Richter said, “the core business, group subsidiaries and diversification” have remained central to all operations even as he shared an update on the company’s sustainability and inclusivity efforts, as well as on the company’s outlook for 2022 and beyond.

He said , “Julius Berger continues to stand strong, our values are firmly in place and our reputation for reliable and quality delivery remains unmatched…. And within our core business we continue to realize meaningful progress across our portfolio of projects as a foundation for our continued success and growth.”

The turning point was when Shareholders voted overwhelmingly for a N2.50 per share dividend compared to the 50kobo per share paid out last financial year. This year’s dividend payout is the highest shareholders are receiving in the last five years.

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