Shareholders laud Custodian Investment for sustained performance

Kayode Tokede

Shareholders have commended the board of directors and management of Custodian Investment Plc for sustaining good performance and payment of N0.65 dividend in 2022 financial year.

President of Noble Shareholders Association of Nigeria, Matthew Akinlade, who led other shareholders to give the commendation at the 28th Annual General Meeting of the company in Lagos over the weekend, said Custodian Investment is an investor’s delight. He urged the board and management to keep up the good performance.

Akinlade also commended the board and management for turning around the fortunes of UPDC Plc, a subsidiary of the company acquired with 51 per cent equity stake in 2020.

Addressing shareholders at the meeting, Chairman of the Board of Directors, Dr. (Mrs.) Omobola Johnson, noted that, “Notwithstanding the economic headwind faced during the year, our company was able to report decent financial performance across the group”.

“We reported total revenue of N103.08 billion, representing 20 per cent year-on-year growth. Profit before tax for the year was N13.7 billion, an increase of 12 per cent when compared with N12.32 billion achieved in 2021. Profit after tax grew by 11 per cent to N11.17 billion.”

Johnson said, in line with the company’s commitment to deliver strong and sustainable returns to shareholders, the board approved a total dividend of 65 kobo per share – interim dividend of N0.10 kobo per share and final dividend of N0.55 kobo – in respect of the result of the 2022 financial year, subject to appropriate withholding tax.