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NAHCO Rewards Shareholders with 20k Dividend, Bonus Shares

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Nigerian Aviation Handling Company Plc (NAHCO Aviance Plc) has rewarded its shareholders following the declaration of a cash dividend of 20 kobo and a bonus of one new share for every 10 shares already held for the 2014 financial year.

In addition to these rewards, the company is set to benefit from its free trade zone subsidiary, NAHCO FTZ, which commenced operations last quarter of 2014 and is expected to begin to reap profits soon after significant investments in its development in the past two years.

NAHCO’s key perfomance indicators for the financial year ended 2014 showed a marginal increase in revenues of N8.13 billion, and profit after tax(PAT) of N568 million, compared with N8.09 billion and N817 million in 2013 respectively.

The company’s bottom line was affected by the three months Ebola virus scare which reduced the movement of passengers and cargo flights across West African airports by major international carriers, NAHCO’s core customers.

Also, the company’s ratios withered the general high cost of operations, the slowdown in the economy major macroeconomic volatility preceding the 2015 elections.

The 2014 group results released and approved by the NSE this Friday was most impacted by pre-operating expenses and sunk cost made in its free trade zone subsidiary, reducing its overall profitability and performance relative to 2013 results.

However, Mr Norbert Biedermann, managing director of the NAHCO, noted in a statement that inspite of the unplanned difficulties and the several health and safety flight cancellations and limitations in travels and travel warning, coupled with the warehouse closure, it achieved marginal growth of 2 per cent in a very difficult year.

He confirmed that while investments in the FTZ would continue in 2015/2016, the company would begin to reap the fruits of such investments within the year in a sustainable manner.

NAHCOs bonus declaration plus a cash dividend is the first double corporate action by a listed company this year on the floor and reflects company’s continuing strategy for cash retention as development and diversification is deepened in tight market conditions.

NAHCO’s Group chairman, Suleiman Yahyah had told shareholders in Abuja last May , that a 25-year master plan was being developed for implementation by NAHCO FTZ which will triple its cargo handling capacity in the short term and create a long term pipeline for both its expansion of revenues and consolidate its diversification strategy while supporting Nigeria’s exports earnings and trans-shipments capabilities   across the west Africa sub region- The FTZ is projected to attract over $500million in new investments in next 5 years.

“NAHCO FTZ will afford us the opportunity to import goods in a borderless environment. It will also improve Nigeria’s trade facilitation and competitiveness and give us a unique platform to service our value-added aviation-clients and related business.

“The platform will enhance air traffic into the country and make NAHCO Plc a diversified business with highly increased cargo volumes, supporting light packaging industry, and light retailing activities within the airport infrastructure. We also plan that when the FTZ comes into full operation in 2016, some of the exports business that we lose to our neighboring counties would revert to us, thus creating jobs and economic multipliers for Nigeria,” Yahyah said.

Most shareholders of the company had expressed excitement and support over the new subsidiary, the first FTZ platform for Cargo Hubbing in Lagos airport modelled like the Dubai, Singapore and Shannon airport free trade zones.


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Glo Urges Workers to Reflect on Furthering National Growth on May Day

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Telecommunications services provider, Globacom, has admonished Nigerian workers to reflect on more ways of contributing further to the growth of the country.

In a solidarity message on the occasion of the 2024 International Workers’ Day, the company noted that Nigerian workers were resilient in spite of the challenges they encounter in the course of discharging their duties.

The telecommunications giant further noted that the story of Nigeria cannot be adequately chronicled without acknowledging the immense contributions of workers, both in the public and private sectors.

The day is observed on May 1 yearly in recognition of the contributions of workers all over the world and to advance fairer and more sustainable future by advocating for workers’ rights.

“We salute Nigerian workers on this day and commend them for the hard work, commitment, resourcefulness and industry which are essential for the growth of the economy of any nation,” Globacom said.

 


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CWG Board of Directors Approves 400% Increase in Dividend Payout

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CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.

This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.

Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”

This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.

As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.


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Prof. Aliyu, AI Practitioner to Keynote ABoICT 2024

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CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.

 

Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.

This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.

The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.

According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.

He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.

“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.

A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.

He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.

Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.

He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.

Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.

Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.


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