A shareholders advocate, Oladimeji Adeleke Bolaji has commended Transnational Corporation of Nigeria Plc (Transcorp) improved first quarter earnings for the quarter ended March 31, 2021, despite the impact of second wave of Covid-19 pandemic.
Just as he urged the board of directors to improve on its dividend yield and address administrative and finance cost. He believes that when these are taken care of shareholders will be able to anticipate good returns on their investment at the end of the 2021 financial year.
Oladimeji, who is also a member of Dedicated Shareholders Association (DSA), disclosed this to Financial Edge, after receiving Transcorp 1 Kobo dividend that was approved by shareholders for the financial year ended December 31, 2020, at the company 15th Annual General Meeting (AGM) on Monday 26, April 2021.
A breakdown of the first quarter unaudited financial shows that revenue went up by 58.75% to N24,435 billion above N15,391 billion that was recorded same period in 2020. Profit after tax stood at N2,041 billion. Earnings per shares stood at 0.018 in the period under review as against (0.012) that was reported in 2020.
He noted that with the recent appointment of new directors, shareholders expectations are high because of the potentials of the company to deliver value to all its stakeholders, while appealing to all shareholders embrace E-dividend in order to reduce unclaimed dividend problem.
