Transcorp Hotels has paid 74 kobo per share, which represents a 270 per cent rise from the 20 kobo paid in 2023, to its shareholders for the year ending on December 31, 2024.
The company grew its profit before tax by 138 per cent to N22.61 billion in the 2024 financial year.
The chairman of the company, Emmanuel Nnorom, who disclosed this in Abuja yesterday at the 2024 annual report and financial statements, added that the feat was achieved despite persistent inflation and fluctuating exchange rates.
He explained that a final dividend of 64 kobo per share or N6.56 billion for the financial year 2024 brings the full dividend of 74 kobo per share or N7.57 billion, having paid an interim dividend of 10 kobo per ordinary share paid at half-year 2024.
Nnorom noted that 2024 was defined by a significant increase in revenue generation, cost management, and market positioning.
He added that the company achieved an impressive gross revenue of N70.13 billion, reflecting a remarkable increase from the prior year’s figure of N41.46 billion.
He insisted that the exponential growth underscores the effectiveness of its strategy to optimize pricing models and deliver consistent value to its guests.
He further highlighted that Transcorp Hotels Pic’s ability to adapt ensured that it capitalized on market opportunities, even in the face of persistent inflation and fluctuating exchange rates.
He said: “The Profit before tax closed at N22.61 billion, representing a 138 per cent year-on-year increase. The stock price performance was equally outstanding. Rising by 65 per cent to close at N116 on December 31, 2024. This milestone firmly positioned Transcorp Hotels Pic as one of the most attractive stocks on the Nigerian Stock Exchange (NGX). These results are a testament to investor confidence in our growth trajectory and prospects.”
Nnorom added that another highlight of the year, which contributed to the performance, was the company’s concerted effort to enhance guest experience and operational efficiency through strategic upgrades to its facilities.
He disclosed that the company invested in modernizing key areas of its operations, including introducing new culinary concepts and elevating service delivery to align with international standards, saying these enhancements have been instrumental in reinforcing the company’s reputation for excellence and attracting a more diverse clientele.
The Transcorp Hotels chief maintained that as the company enters the next phase of its journey, it is poised to unlock new opportunities, deliver exceptional value, and shape the future of hospitality in Nigeria and beyond, saying: “Our strategy for 2025 focuses on scaling innovation, deepening customer engagement, and reinforcing our leadership position in the industry.”
