11/7/2017/Daily Trust
By Sunday Michael Ogwu
Shareholders of Eterna PLC at its 24th Annual General Meeting (AGM) held in Lagos, approved the board’s proposal for the payment of 30 kobo per share amounting to N391 million for its financial year ended December 31, 2016.
The former Secretary General of the Independent Shareholders Association of Nigeria, Mr Adebayo Adeleke, said “We are impressed with the record performance and the balance sheet. We are indeed happy that Eterna is paying dividend amid the tough challenges facing downstream operators in this country. It shows that the board and management of the company hold every shareholder in high esteem.”
The chairman of Eterna, Mr Lamis Dikko, said operating revenue was N106.9 billion in 2016 compared with N92.06 billion in 2015, while the operating profit increased significantly from N3 billion in 2015 to N8.6 billion in 2016.
Dikko stated that in keeping with their promise, the board recommended a dividend of 30k per share, representing a 20 per cent increase from the dividend in 2015.
“We achieved 221 per cent increase in operating profits despite 16 per cent increase in our turnover and 178 per cent increase in gross profits,” he added.
The Managing Director, Mr Mahmud Tukur assured shareholders and other stakeholders of a policy that would ensure sustainability and profitable growth.
