NAHCO Shareholders Okay N406m Dividend Payment
Shareholders of the Nigerian Aviation Handling Company Plc have approved the payment of 25 kobo as dividends for the 2018 financial year, which translates to N406m.
The Chairman, NAHCO, Dr Seinde Fadeni, while speaking at the company’s Annual General Meeting in Lagos, assured shareholders that the ongoing implementation of a strategic five-year growth plan would lead to a more agile and profitable company.
He noted that the transformational initiatives being taken to sustain the company as the leading ground handling company would bring about sustainable returns to shareholders.
Fadeni stated that the new board and management had reset the company’s group structure and operations and had started implementing key initiatives to address cost structure, realign products and interface with customers and other stakeholders to ensure optimal performance in the years ahead.
He said the company had started modernisation of its warehouses in order to position itself for global changes in cargo handling and management.
Fadeni said, “NAHCO is currently investing in warehouse refurbishment, facility and equipment upgrade to ensure leadership in all areas of air cargo within the West and Central African region.
“While increased costs of operations and administrative expenses impacted the company’s performance in 2018, the new management has been addressing these cost centres to ensure improved efficiency and competitive returns.
“It is my belief that our company will grow more rapidly in the coming years in light of the measures and innovations being implemented.”
According to him, the company’s five-year strategic plan is anchored on five strategic pillars of operational excellence, digital transformation, people and culture transformation, organic and inorganic growth and diversification.
Fadeni said the pillars would be driven by three main enablers, including adequate funding and capitalisation, financial grip and enhanced risk management.
The Group Managing Director, NAHCO, Mrs Olatokunbo Fagbemi, said the new management had continued to make steady progress in driving the company’s new vision “to be the leading service provider, continuously innovating and reshaping chosen markets”.
She said, “Our new NAHCO is focused on retaining existing customers and on-boarding new customers, strengthening on strong balance sheet, profit and loss and enhancing free cash flow.
“We are also focused on consistently delivering value to all stakeholders. In the coming months, the company will increasingly become an efficient organisation that is fit and able to deliver services at optimum prices to the delight of its stakeholders.”
Fagbemi stated that the company was working with full understanding of the market place to create a win-win strategy with its suppliers and service providers and to ensure that costing and pricing were optimal and sustainable.