Afriland Properties shareholders approve N137m as dividend

Afriland Properties shareholders approve N137m as dividend

Afriland Properties Plc. has announced a profit after tax of N1.02 billion for the year ended, December 31, 2017.

This represents 233% increase compared to N307 million in the corresponding period of 2016.

Total assets in the year under review stood at N19.8 billion which represents 17.9% increase over N16.8 billion recorded in 2016.

The shareholders also approved the board’s proposal to pay a sum of N137.39 million as dividend, translating to 10 kobo per ordinary share.

For the financial year ended 2017, Afriland Properties Plc. also recorded 11% growth in revenue from N1.1 billion in 2016 to N1.3 billion, while profit before tax increased by 96% to N1.06 billion from N0.540 billion in 2016 financial year.

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