Julius Berger pays N5.2b gross dividend to shareholders

Julius Berger Nigeria PLC has announced the payment of a total gross dividend of N5.2bn to its shareholders.

This was disclosed during its 55th Annual General Meeting, reposing confidence on the leadership of the board Chairman, Engr. Goni Sheikh and Managing Director Engr. Peer Lubasch who both recently assumed offices.

In his address to shareholders during the meeting, the Managing Director highlighted the challenges confronting the organisation, saying the socio-economic environment continues to present significant challenges shaped by a range of persistent and compounding pressures like currency devaluation.

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He added that ongoing foreign exchange scarcity, escalating construction costs, surging inflation, increased fuel prices, high lending rates, global market uncertainties and domestic security concerns are some of the challenges facing the company.

However, he stressed that since he assumed office, the company has recorded success by navigating the headwinds of challenges in its line of duty.

“As a company, we have continued to demonstrate resilience, navigating headwinds by adapting with an eye towards efficiency and sustainable growth,” he said.

He stated that the firm has begun its regional diversification, citing the two contracts in the Republic of Benin.

“We are already making significant steps forward with our regional diversification strategy, with two contracts in the Republic of Benin,” he said.

He assured shareholders of greater success despite the volatility of the business environment, hinting at the execution of their strategy, agile leadership and the dedication of their teams.

In response, the shareholders expressed confidence with the leadership, further demonstrating their resolve by passing all the resolutions of the Board which included shareholders’ dividends, new Executive Directors, new non-Executive Director, re-election of some directors and the appointment of Goni as a Director of the company.