Nigerian Alternate Group approves N2 dividend and Audited statements, reveals re-elections and appointments at AGM
Nigerian Alternate Group Plc has introduced the approval of a remaining dividend of N2 per strange share of fifty kobo every for its registered shareholders.
This choice was permitted in the course of the firm’s sixty fourth Annual Common Assembly and was formally communicated in a launch revealed on the group’s disclosure web page, signed by the corporate secretary, Izuchukwu Akpa.
The disclosure additionally highlights the adoption of the corporate’s Audited {Financial} Statements for the fiscal 12 months ended December 31, 2024, and the reviews of the Administrators, Auditors, Board Analysis Consultants, and the Audit Committee.
Moreover, the Board of Administrators was approved to find out the remuneration of the auditors, Ernst & Younger, for the 12 months ending December 31, 2025, in addition to to reveal the remuneration of the corporate’s managers.
Re-election and appointments:
Through the latest Annual Common Assembly, the next administrators retiring by rotation have been re-elected: Mr. Nonso Okpala, Mrs. Fatima Wali-Abdurrahman, and Mrs. Mosun Belo-Olusoga.
In accordance with Part 404(3) of the Firms and Allied Issues Act 2020, the corporate additionally established an Audit Committee to serve till the following Annual Common Assembly.
- This committee consists of shareholders Mr. Samuel O. Adejumo, Mr. Peter O. Eyanuku, and Mr. Samuel Ayininuola, alongside impartial non-executive administrators Mrs. Ojinika Olaghere and Dr. Okechukwu Itanyi.
Efficiency:
Nigerian Alternate Group Plc (NGX Group or the Firm) revealed its audited {financial} outcomes for the 12 months ended December 31, 2024, reporting a revenue earlier than tax (PBT) of N13.6 billion, which is a 157.3% enhance from the earlier 12 months.
The expansion was attributed to income will increase, price administration, and larger market participation. Gross earnings rose by 103.2%, reaching N24.0 billion in FY 2024, in comparison with N11.8 billion the earlier 12 months.
The strong end result was pushed by development in key income streams:
- Transaction charges elevated by 64% as a result of heightened market exercise.
- Itemizing charges surged by 397.1% from stronger capital market participation.
- Know-how-related revenue grew by 105%.
- Different charges rose by 174.8%.
- Treasury funding revenue climbed by 45.6% by means of efficient asset administration.
- Market information income elevated by 100.5%, contributing to a 102.6% rise in different revenue, now 29.6% of gross earnings.
