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Julius Berger 54th AGM approves Gross Dividend Payout of N4.8bn

Julius Berger 54th AGM approves Gross Dividend Payout of N4.8bn

 

. We’ll keep our position as a leader within Corporate Nigeria, vows Chairman

 

. Managing Director: We’ll continue to prevail as partner for progress

 

 

 

Leading engineering construction company, Julius Berger Nigeria Plc is paying out a gross dividend of N4.8billion to shareholders even as the company is determined to maintain its position as a leader in corporate Nigeria.

 

At the company’s 54th Annual General Meeting, AGM held in Abuja yesterday, Chairman of the Board of Directors, Mr. Mutiu Sunmonu said, ‘though we have endured formidable challenges, our Company’s financial performance and resilience for the year 2023 was exceptional, resulting in yet another record-breaking year following the highly successful outcomes of 2022.’

 

Stressing that a greater scenario is projected to play out in the current financial year, the chairman disclosed that the Board of Directors is pleased to recommend a dividend of N3.00 per 50 Kobo ordinary share, resulting in a total gross dividend payout of N4.8 billion.”

 

He said the pressures were magnified by the 2023 general election lulls, administrative transition periods, and policy shifts at both the State and Federal levels, adding that,  thanks to forward-looking cost management, strong contracts management and unmatched efficiencies in procurement, our Company’s financial results have remained largely in line with planning, while earnings before taxes improved. Such positive outcomes were mirrored across our Group, in which rigorous management combined with excellent performance led to a Group revenue of #443 billion, exceeding planning and reaching a historic high.

 

He further said that Julius Berger has continued to set the benchmark for reliable and high-quality engineering and construction services, through which the positive impact of its operations has been felt across the country.

 

In the reporting year, he continued, we have commissioned the Second River Niger Bridge Main Contract and Temporary Access Road, as well as the Abuja-Kaduna-Zaria-Kano Road Sections 2 and 3 – both projects of national priority. We have completed key projects including the Lagos-Shagamu Expressway projects for the Office of the National Security Adviser, and the State House Clinic in Abuja – while progressing other significant works.

 

Mr. Mutiu said in parallel, the company has acquired strategic projects, such as the Port Harcourt Ring Road as well as expanding its footprint into both Delta and Abia States, thus extending its operations into new territories and furthering positive impact in the South-South and South- East zones. The Board chairman also said that the same outcome played out in its various subsidiaries that have continued to perform with excellence, in line with their individual strategic targets.

 

Julius Berger International GmbH he also said, has continued to progress its growth aspirations in solidifying the Julius Berger brand within the German construction industry, saying that, it has achieved a larger share of technical services with external customers than that within the Group, opened its first regional office in the Ahr Valley, and enlarged its workforce and therefore its expertise -all while increasing revenue, implementing its sustainable design-and-engineering strategy and achieving an Eco Vadis silver rating recertification for excellent environmental, social and governance (ESG) management.

 

Furthermore, the chairman said, within the Julius Berger Group, diversification has remained high on the agenda – both in regard to risk management and as a driver of sustainable growth providing opportunities to increase our impact and reach beyond construction and beyond Nigeria. Thus, in line with regional expansion targets of the company, a Julius Berger branch office has been opened in Cotonou, Benin Republic, with road rehabilitation contracts already underway.

 

ahead, he said, maintaining the strong brand, financial resilience and culture of excellence remains central to corporate goals, adding that, with our renewed vision and with our mission and values as guiding principles, together with our business strategy and operational frameworks, we remain determined to achieve the growth of our Group, no matter the challenge.

 

Sunmonu then declared that notwithstanding the colossal hurdles the company will need to overcome, it will maintain its position as a leader within Nigeria’s corporate landscape, while expanding its reach and impact through existing Group activities and through well-defined diversification agenda.

 

Speaking in the same light, the Managing Director, Engr. Dr. Lars Richter said the company will continue to prevail as a partner for progress inspite of the challenging operating environment.

 

In his speech at the august event, the Managing Director gave shareholders of the company’s activities in 2023 stressing that issues like inflation, currency devaluation, insufficient funding of major projects among others constituted challenges the company had to cope with.

 

He said, that though Julius Berger is very familiar with challenges, the challenges right now have been exceptionally difficult adding however that, with greater challenges come greater zeal to thrive for the company and the country, Nigeria.

 

We will continue to evolve business continuity measures while adjusting to the challenges in the operating environment, he said.

 

In the foregoing context, the Managing Director said subsidiaries in the Group are not left out even as diversification remains a key tactic of doing business well, mentioning the launching of Julius Berger, Cotonou, Benin Republic to buttress his position just as he gave a low down on some projects being constructed by the company in Lagos, Abia, Delta and Rivers States.

 

The Managing Director then declared: the challenges may be unprecedented, may tough; but there is no doubt that Julius Berger will continue to prevail as a partner for progress.

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Greenville LNG Pays Courtesy Call on Governor Uba Sani of Kaduna State

Greenville LNG Pays Courtesy Call on Governor Uba Sani of Kaduna State

Greenville LNG Pays Courtesy Call on Governor Uba Sani of Kaduna State

 

The Management of Nigeria’s leading domestic gas infrastructure development, gas liquefaction and distribution company, Greenville LNG has paid a courtesy call on the Kaduna State Governor, His Excellency, Senator Uba Sani last Friday. The Greenville LNG delegation to the meeting with the Governor was led by the company’s Director, Inter-governmental relations, Alhaji Zubairu Ibrahim Bayi.

 

Speaking on behalf of the Chairman, the Board, and Management of Greenville LNG, Bayi thanked the Executive Governor, the State Government and the good people of Kaduna State for Kaduna State’s friendly cooperation and supportive disposition towards Greenville LNG since the company’s pioneering gas delivery, expansion and utilisation investments as well as its sister company’s (Gradient Bitumen’s) superior polymer-enhanced and super-grade bitumen production and distribution investments  located in the State.

 

Alhaji Zubairu Ibrahim Bayi thanked Governor Uba Sani, his Executive Council and the Kaduna People for providing a progressively conducive and safe environment for Greenville LNG to work in Kaduna State, pointedly ascribing the business-friendly situation to Governor Uba Sani’s well-rounded socio-political and economic management experience. Bayi hailed the Kaduna Governor’s visionary governance and effective leadership of the State, adding that with the clearly focused governance provided by the Governor, Kaduna State’s economic and industrial renaissance is well vested with a very proactive, purposeful, revivalist and developmental trajectory headed for good success.

 

According to Alhaji Bayi, “…Your Excellency, since the advent of Greenville LNG Company Limited in Kaduna State, and the commissioning of its huge LNG and CNG Hub Station and ancillary workshops, and first-of-its-kind Drivers’ Training Academy in Kakau, Kaduna in October last year, the company has not experienced any incidents of beach of the peace.  Your Excellency, we can ascribe this healthy situation to your effective leadership of the State, and we sincerely thank you for your worthy efforts and credible governance.”

 

Bayi added that during the construction of the Greenville LNG facilities in Kaduna, the company engaged over 500 workers amongst whom were over 250 Kaduna indigenes. “Your Excellency, with the acquisition of additional hectares of land for our superior quality Gradient Polymer and Bitumen plant in Kaduna, we are set to also generate even more employment for more of the hardworking and productive people of Kaduna State,” said Bayi.

 

Greenville LNG’s investments across Nigeria, according to Bayi, also seek to assist its host states to embark on prudent and commercially viable independent power generation projects. Greenville LNG’s projects also activates to enhance internally generated revenue to further assist its host states to develop more of their needed infrastructure.

 

Greenville LNG, Bayi said, seeks the continued support of the Kaduna State Government and its people in the company’s determination to provide readily available, cleaner, environmentally friendly, more affordable and more sustainable energy, and superior bitumen offerings as well as employment for Kaduna’s industrial renaissance and progressive development.

 

While responding to the remarks of the Greenville LNG’s delegation leader, His Excellency, Governor Uba Sani thanked the Greenville LNG corporation for its well vested business interest in Kaduna State. The Governor emphasised his recognition that “there is an inescapable nexus between effective leadership, a conducive and business-friendly environment and successful investment promotion.” His administration, the Governor said, is committed to creating and sustaining a conducive environment that makes Kaduna State every serious investor’s destination of choice in Nigeria.

 

He called Greenville LNG’s presence in Kaduna State positively historic, and informed the company’s delegation that the Kaduna State Government has indeed purchased and brought into the country a good number of CNG transportation buses in pursuit of the State Government’s gas expansion and utilisation agenda.

 

Governor Uba Sani commended Greenville for its advent and expansion of its business investments in Kaduna State and requested that the company expand its operations across the length and breadth of Kaduna state and help to generate employment for more people across the state.

 

The Executive Governor, His Excellency Uba Sani an engineer by profession, who was at different times in the past Advisor to President Olusegun Obasanjo on Public Affairs, Special Adviser, Political and intergovernmental affairs in Kaduna State, Senator for Kaduna Central Senatorial District at the 9th Nigerian Senate, promised to committedly do all in his power and office to provide every lawful support and encouragement to attract and sustain businesses invested in Kaduna State such as Greenville LNG and Gradient Bitumen. He prayed for the success of Greenville LNG’s businesses in Kaduna State.

 

The Kaduna State Government’s team that accompanied Governor Sani Uba to the meeting with Greenville LNG included, the Secretary to the State Government (SSG) Dr Abdulkadir Muazu Maiyere; Special Adviser to the Governor on Economic Matters, Alhaji Ibrahim Tanko Mohammed; the Hon. Commissioner for Agriculture, Murtala Dabo;  Special Adviser, Investment Promotion, Sabiu Sani; Executive Secretary, Kaduna Investment Promotion Agency, Sadiq Mohammed; General Manager, Kaduna Agriculture Development Agency, Muhammad Rili, the Deputy Chief of Staff, Legal and Legislative Matters Kaduna State Government, Dr. Mustapha Musa.

 

The Greenville LNG delegation also included Sajit Pillai and Nilanjan Chikraborty of Gradient Bitumen; Tusha Shirore of the LNG team, Hamza Saidu of Greenville’s IT works, and the company’s head of Communications, Media, PR and Strategic Liaison, Prince Moses G. Duku.

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