Owen Omogiafo Purchases N47.7m Worth of Transcorp Shares

Kayode Tokede 

The President of Transnational Corporation Plc, Dr. Owen Omogiafo has purchased N47.7 million worth of shares of the conglomerate which has investments in the hospitality, power and oil and gas sectors.

Omogiafo, on June 23, 2023 purchased 2,782,318 at N3.14; 9,574,349 at N3.15 and 2,827,016 at N3.13 of the Corporation, equivalent to N47.7million in value. 

The acting Company Secretary, Transcorp, Funmi Olofintuyi in a signed notice on the Nigerian Exchange Limited (NGX), disclosed that Omogiafo acquired a total of aggregate volume worth 15,183,683 of the group.

The acquisition of 15,183,683 million shares represented 0.04per cent of the company’s total outstanding shares of the company.

With the acquisition, Omogiafo has increased her number of shares from 12,634,188 units as of December 31, 2022, to 27,817,871 units.

As of June 27, the company stock closed on the NGX at N3.46 per share.

The diversified conglomerate in Power, Oil & gas, Hospitality in 2022 financial year paid a dividend of N2.03 billion as against N812.96 million in 2021, being five kobo per share on the outstanding ordinary shares of 40,647,990,293 shares of 50 kobo each.

The growth in dividend pay-out was on the back of impressive performance across all its subsidiaries, most especially the power sector which contributed about 77 per cent or N103.3 billion out of N134.72billion of total revenue reported in 2022.

Other sectors, hospitality contributed 23.3 per cent or N31.44 billion in revenue, while corporate centre hit N10.32 billion in revenue from the N5.13 billion reported in 2021.

Overall, the Group closed 2022 with N134.72 billion revenue, which was an increase of 21 per cent from N111.22 billion in 2021, while profit before tax rose to N30.28 billion in 2022, representing an increase of 8.1 per cent from N28billion reported in 2021.

Amid impressive performance in 2022 financial year, the group in first quarter (Q1) ended March 31, 2023, with sustained growth in revenue, among other key financial parameters in the period under review.