For increasing shareholders value on investment through robust dividend payout, Shareholders of Fidson Healthcare Plc, yesterday commended the company’s board on its 2014 performance, as they approve a dividend of 15 kobo per share.

The shareholders, who spoke during the company’s 16the yearly general meeting of the company, in Lagos Yesterday, also urged the management to reduce the names on the unclaimed dividend list.

Specifically, Shopeju Efuremi of Domicile Shareholders Association, who expressed satisfaction with the state of affairs in the bank and sustaining its profitability also commended the management on the improved performance recorded during the year under review.

She urged the new management to ensure that they do everything within theirs to ensure that they promote and add value to the company.

Another shareholders, Kazeem Olayiwole stressed the need for the management to work with the registrars on the issue of unclaimed dividend.

He, however commended the management for the impressive performance and efficient running of the company, amid harsh economic environment.

“We appreciate your performance over the years. We need to be proactive in our marketing strategy and put more stringent efforts to stay ahead of competition.” He added.

Reviewing the company’s performance, the Chairman of the company, Felix Ohiwerei said: “In spite of the prevailing tough economic conditions, we are maintaining our prior year dividend pay-out.

Ohiwerei noted that despite the tough business environment, turnover for the year ended 31st December 2014 was N9.7 billion, representing an increase of 5.24 per cent when compared with N9.2 billion recorded in 2013.

“Gross profit stood at N5.4 billion compared with N5.1 billion made in the year before, showing an increase of 6.5 per cent. Operating profit also increased by 4.65 per cent from N1.3 billion in 2013 to N1.4 billion in 2014. Profit after tax was N631 million, as against N154 million recorded in 2013.

The significant increase in profit was due to the impact of impairment on investment in associate company on 2013 profit. Net asset grew by 10 per cent from N5.2 billion in 2013 to N5.75 billion in 2014,” he said  

Ohiwerei said the company issued a N2 billion 15.5 per cent 5-year fixed rate bond during the year under review, adding that the bond effectively reduced the company’s average interest rate from 16 per cent to 15 per cent.

The issue according to him was sequel to shareholders approval at the 11th yearly meeting held in February 2010.