By InvestAdvocate

Lagos (INVESTADVOCATE) – Africa’s conglomerate Transnational Corporation of Nigeria Plc (TRANSCORP) on Wednesday increased its dividend 20 percent to 6 kobo in 2014 audited year end from 5 kobo paid in 2013, the conglomerates first ever dividend payout.

According to TRANCORP, dividend warrants would be posted to shareholders whose names appears on the company’s register of members as at the close of business on Tuesday April 21, 2015.

The company further affirmed that for the purpose of qualifying for dividend and attendance to annual general meeting (AGM) scheduled for May 8, 2015, the register of members and transfer of books of the company will be closed from Wednesday, April 22, 2015 to Friday, 24, 2015, “both date inclusive,” the company said.

A review of the 2014 audited report of the conglomerate with interest in hotels, power and oil and gas, shows that post tax profit dipped 52.5 percent to N3.304 billion from N6.957 billion recorded year ago.

Similarly, pretax profit of TRANSCORP dipped 14 percent to N7.73 billion from N9.032 billion reported in the corresponding period of 2013.

Revenue more than doubled in the 2014 review period to N41.338 billion from N18.825 billion in the same period of 2013; indicating a growth of 119.6 percent.

At the close of business on the Nigerian bourse, share price of the conglomerate lost 4.86 percent from N3.50 to N3.33 recorded on Tuesday; losing 0.17 kobo.