The approved dividend payout, which contributed to the heightened investor confidence, amounted to a final dividend of 64 kobo per share, following an interim dividend of 10 kobo per share paid earlier in the year, reflecting the company’s strong financial performance and commitment to delivering shareholder value.
The Company’s stock price surged by 65% in 2024, closing the year at N116 per share. The price jump positions it as one of the most attractive stocks on the Nigerian Stock Exchange (NGX), with the latest gain further reinforcing this.
Chairman, Transcorp Hotels Plc Board of Directors Emmanuel Nnorom attributed the growth to strategic pricing models, effective cost management, and an unwavering commitment to enhancing guest experiences.
“Our performance in 2024 has been nothing short of stellar. The company’s ability to adapt and capitalize on market opportunities, even amidst persistent inflation and volatile exchange rates, speaks volumes about the strength of our operational strategies.”
Managing Director/CEO Uzoamaka Oshogwe said revenue growth was fueled by sustained demand in international and corporate travel, a strong rebound in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, and dynamic performance in the leisure market.
“This significant growth is particularly commendable given the persistent macroeconomic headwinds,” Oshogwe said.
“Our ability to navigate these challenges and achieve such robust results underscores the effectiveness of our business model and strategic approach.
