By InvestAdvocate

Lagos (INVESTADVOCATE)- Hospitality firm, Transcorp Hotels Plc (THP) said on Monday its proposing 37 Kobo per share first-ever dividend to shareholders of the company.

The hotelier in its corporate action with the Nigerian Stock Exchange (NSE) said March 30 is its closure date of register of members; while annual general meeting (AGM) and payment date has been scheduled for April 15 and 17 respectively.

THP says venue for the AGM is Transcorp Hilton Hotel Abuja, Nigeria.

The Shares of Transcorp Hotels worth N4.2 billion was admitted on the Daily Official List (DOL) of the NSE middle of January 2015.

Thus, the company became the first to list on the Nigerian bourse in 2015; and coming on the heels of an Initial Public Offering (IPO) it opened in late September, 2014.

Valentine Ozigbo, managing director/chief executive officer (MD/CEO) of THP had said proceeds of the offer will be used to fund the development of two new Transcorp Hilton hotels, one in Ikoyi, Lagos, and the second in Port Harcourt, with both due for completion in 2017. ‘’We are delighted to be able to offer the Nigerian public the opportunity to participate in our future success. This offer reiterates our commitment to creating sustainable value for all stakeholders,” he said.

THP had initially sought fresh funds of 8.0 billion naira by offering 800,000,000 ordinary shares of 50 kobo each at N10.00 per share; but raised only N4.2 billion.