The shareholders of NIPCO Plc have commended the company’s board and management for approving a dividend payout of N1.31 billion, translating to N7 per share, at the 2024 Annual General Meeting (AGM) held in Abuja.
The dividend yield, the highest in the company’s 21 years of operation, excited the shareholders, who praised the company’s robust performance despite economic challenges.

In his remarks, the Chairman of NIPCO Plc, Chief Bestman Anekwe praised the core investors’ sagacity and business sense, citing the company’s rapid growth and recognition in the industry.
He hailed the patience of shareholders, noting that their investment would continue to yield benefits.
Anekwe said the company has demonstrated its ability to navigate challenges and deliver value to its shareholders, adding that the company’s robust performance is a reflection of its strong management team and experienced board members.

“The company’s future outlook is promising, with plans to continue delivering value to its shareholders. NIPCO PLC is poised for further growth and success, and its shareholders can look forward to continued returns on their investment,” Anekwe said.
Earlier, the Chairman of Confluence Shareholders Association of Nigeria, Mohammed Shakur Ayanda described the dividend payment as a “commendable leap” by the company.

According to Ayanda, the company’s ability to pay a high dividend despite the challenges in the oil and gas sector is a testament to the excellent management team and experienced board members.
 “We are delighted with this result, and it gives us hope of better returns on our investments in the years to come,” he said.

A founding shareholder and former director of NIPCO, Yakubu Suleiman noted that the company performed better than its peers in the sector, attributing the success to the company’s excellent management team and experienced board members.
“Shareholders have every cause to jubilate for the year ended 2024 for the great efforts of the board and management of the company,” he added

Another shareholder, Ezinwa Chukwudi also praised the board and management for their prudent management of resources, which resulted in the impressive dividend payout.

“Receiving the dividend payments promptly, even before leaving the AGM venue is a feat that was widely appreciated,” he added.

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