Shareholders of Haldane McCall Plc, a listed real estate and hospitality company, have endorsed the N220.6 million dividend or 7 kobo per ordinary share of 50 kobo each, which is 32.5 percent of the profit after tax.
The company’s directors were all re-elected by the shareholders at the first Annual General Meeting (AGM) after its listing on the Nigerian Exchange Limited (NGX) on November 20, 2024, reflecting confidence in their innovative leadership.
The shareholders have also approved the company’s plan for capital raise through Rights Issue to increase its share capital and N250 billion debt instruments in tranches to fund its group’s expansion programme.
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Commenting on the company’s performance during the yearly general meeting, a shareholder, William Adebayo, particularly commended the declaration of dividends, which he described as a vital source of income for shareholders. Other shareholders showered encomiums on the company’s Board and Management.
Edward Akinlade, Group Managing Director, Haldane McCall Plc, assured the shareholders of better days ahead.
“Our financial results reflect not only our resilience in the face of a challenging economic environment, but also our commitment to continuous growth and value creation. We experienced a remarkable growth in our financial metrics which is a good testament to our robust business model and effectiveness of our strategic initiatives,” he said.
Corroborating him, George Oguntade, Chairman of Haldane McCall Plc explained that the company shall continue to support its stakeholders.
“Haldane McCall Plc is committed to positively changing the real estate development landscape in Nigeria and equally contributing its quota in supporting both State and Federal Governments in bridging the massive housing deficit in the country. We will not rest on our laurels and with the support of all our partners and stakeholders, we will deliver a stronger performance next year “, he noted.
Read also: Haldane McCall grows FY’24 profit by 168% to N1.01bn
The company recorded a 164 percent profit after tax from N256.96 million in 2023 to N679.6 million in 2024. The growth in profits was driven by increase in revenue and the management divestment in non-core business, which generated N20.82 million in the year under review.
Haldane McCall in 2024 declared N3.64 billion revenue, about 109 percent increase over N1.74 billion in 2023, primarily driven by N2.68 billion sale of land and building in 2024, up by 156 percent from N1.05 billion in 2023.
