• Wednesday, November 29, 2023
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Julius Berger pays N4bn dividend to shareholders

Julius Berger-AFP unveils innovative furniture at Africa housing show

Julius Berger Nigeria Plc has announced a total gross dividend payment of N4billion to shareholders.

The chairman of the company’s Board, Mutiu Sunmonu, who disclosed this during the 53rd Annual General Meeting held in Abuja.

According to Sunmonu, though the Julius Berger Group financial results continue to be affected by rising inflation and persistent exchange rate pressure amid hard hitting foreign exchange shortages, the company has achieved positive results across all its operating entities, while sustaining commitment to excellence.

“Board of Directors is pleased to recommend a dividend of N2.50 per 50 kobo ordinary share resulting in a total dividend payout of N4 billion.

“Julius Berger Nigeria Plc and all its subsidiaries continue to prove that our Group has the skills, resources and strategic framework to find success, no matter the challenge,” said Sunmonu.

According to the chairman, across the Group, Julius Berger Nigeria continued to develop progressively in the year under review toward key objectives.

He explained that while surpassing targets for both turnover and profit, a subsidiary, PrimeTech Design and Engineering Nigeria Limited expanded its head office building, as a means to extend its service offering and elevate the Group’s delivery of domestic design and engineering solutions.

“At the international level, Julius Berger International GmbH also continues to bolster its engineering capacities and technical edge, while growing its portfolio of international clients.

“Another subsidiary, Abumet Nigeria Limited achieved profitability in line with planning, signifying an impressive rebound after the COVID19 years and the challenges of the 2021 fiscal year.

“As for Julius Berger Medical Services Limited the revenue base was expanded while providing consistent quality care to the Group’s entire workforce and their families.”

He also highlighted that Julius Berger maintained excellent record in its Corporate Social Responsibility (CSR) initiativess and HSE activities.

In his presentation, the company‘s Managing Director, Lars Richter listed the company’s achievements to include: commissioning of Abuja – Kano road, the newly opened Second Niger Bridge and the ongoing Bodo-Bonny road.

“On the Abuja-Kaduna-Zaria-Kano dual carriageway a high priority infrastructure of national significance forming a critical part of one of Nigeria’s most important highways, uniting communities and economies from the North to the South and vice versa, driving opportunity and strengthening the country’s economic potential.

“Julius Berger was contracted to reconstruct 375.9 km of the Dual Carriageway. We have recently commissioned a total of 210km of completed dual carriageway consisting of 73km from Kaduna to Zaria, and 137km from Zaria to Kano, respectively.

“This achievement, highlights the strength of collaboration across the Julius Berger Group involving both our design and engineering offices here in Nigeria and in Germany.

Speaking further, the managing director said, the Second River Niger Bridge is a key national infrastructure with immense socio-economic benefits for the contiguous states and indeed the entire nation.

“The rehabilitation and reconstruction of the 43.6 km stretch of the Lagos-Shagamu Expressway continues to come closer to commissioning. When completed, the expanded expressway, including its bridges and flyovers, will positively transform daily life for commuters and boost commerce.

“Julius Berger, continues to make progress on constructing the Bodo-Bonny Road, the first road link between Bonny Island and the mainland in Rivers State.

“We look forward to seeing this landmark project completed to support the continued advancement of Bonny Island and the Niger Delta generally with knock on effects for the economic wellbeing of the nation as a whole,” Richter said.