Home Industry News Transcorp Hotels set to pay N717m dividend to shareholders

Transcorp Hotels set to pay N717m dividend to shareholders

by Emmanuel Ogundele
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Transcorp Hotels Plc says is set to pay its shareholders the sum of N717m as dividend for the year 2021 financial period.

The company said its gross profit increased by 143 per cent, while its revenue grew by 114 per cent to N21.74bn according to the audited financial statements for the full year ended December 31, 2021.

Meanwhile according to a statement released by the company, “Theresults published on the Nigerian Group Exchange showeda 114 per cent growth in revenue to N21.74bn from N10.16bn as of December 2020,while gross profit rose by 143 per centto N16.23bn from N6.67bn.

With this, the company’s results show impressive growth in its performance signalling its strong recovery from the impact of the COVID- 19 pandemic in 2020.

However, the performance also reflects the company’s resilience and nimbleness, as it consistently leverages innovation to achieve outstanding performance, breaking occupancy, and revenue records in 2021.”

In his reaction towards the move, the Managing Director/Chief Executive Officer, Transcorp Hotels Plc, Dupe Olusola, said; “We are very pleased with the incredibly strong operating performance of our businesses, as most segments improved in 2021.

He howevevr said the  leisure demand remained strong throughout the year as different leisure packages introduced continue to drive occupancy.

Meanwhile the Chairman, Transcorp Hotels Plc, Mr Emmanuel Nnorom, said he expects the hospitality industry to continue to recover in 2022.

He said, “As the domestic leisure, business and the leisure segment — corporate travellers which also add leisure activities into their stay – continue to expand, even as international guests return, we expect the hospitality industry to continue its recovery.”

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