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Shareholders of Transcorp Hotels Approve N13bn Dividend

Naija News • 3d ago
Shareholders of Transcorp Hotels Approve N13bn Dividend
**Transcorp Hotels' Record-Breaking Dividend: A Testament to Resilience in the Face of Adversity** In a significant move, the shareholders of Transcorp Hotels Plc have approved a staggering N13 billion dividend payout for the 2025 financial year. This translates to a whopping N1.30 kobo per share, a feat that has left many in the industry in awe. This development comes on the back of a remarkable year for the company, with revenues skyrocketing by 38% to N97 billion, a testament to its ability to thrive in tumultuous times. The chairman of Transcorp Hotels, Dr. Awele Elumelu, credits the company's success to its unwavering commitment to excellence. She notes that the demand for the company's food and beverage offerings has been exceptional, while its focus on service excellence has driven repeat business. Despite the challenges posed by inflationary pressures, the company has maintained strong profitability, with a 45% year-on-year growth in Profit After Tax (PAT). Looking ahead to 2026, Elumelu expresses confidence in the company's long-term prospects, despite the potential challenges presented by geopolitical tensions and macroeconomic uncertainties. She reaffirms the company's commitment to developing a new hotel in Lagos, a flagship 5-star property that promises to revolutionize high-end accommodation and premium guest experience in the city. Under the leadership of Managing Director/Chief Executive Officer, Uzoamaka Oshogwe, Transcorp Hotels is poised to drive growth and innovation in the hospitality industry. The company is exploring alternative energy solutions with Transcorp Power, with the aim of reducing costs and improving sustainability. Oshogwe also highlights the company's revenue optimization strategy, which involves investing in projects with strong capital appreciation and a multiplier effect on revenue generation. As the company looks to build on its momentum, Oshogwe emphasizes the importance of operational excellence, citing the implementation of a dual gas burner system as a significant cost-saving initiative. The company is also prioritizing brand relevance, with a focus on ensuring that its brand is synonymous with excellence and quality. With its sights set on the future, Transcorp Hotels is well-positioned to continue its upward trajectory in the Nigerian hospitality industry.
Source: Original Article. AI-enhanced version.