SAHCO Shareholders Approve N406m Dividend 

Kayode Tokede 

The Chairman of Skyway Aviation Handling Company (SAHCO) Plc, Barrister Taiwo Afolabi, yesterday assured  shareholders of enhanced profitability and dividend in the current financial year ending December 31, 2024.

Afolabi, gave the assurance at the company’s 14th Annual General Meeting (AGM) held in Lagos. 

He told the shareholders that the board and management would work tirelessly to achieve better profitability in 2024.

Afolabi emphasised the company’s commitment to enhancing profitability and ensuring customer satisfaction through continued investment in state-of-the-art equipment.

He also guaranteed good returns for the shareholders, acknowledging their unwavering support and emphasising the company’s efforts to generate better dividends for them.

“That has been one of our unique selling points over the years and 2024 will not be any different. I would like to commend the shareholders, we greatly value your support for the management and board over the years. We don’t take your support and encouragement for granted. Be assured we are working hard to make your company great and to generate a better dividend for you,” he said.

The Managing Director, Mr Basil Agboarumi, attributed the company’s impressive 2023 performance to substantial investment in eco-friendly equipment, resulting in significant revenue growth and an expanded asset base.

“In our last AGM, we announced a total revenue of about N11.1 billion for 2022, but as of the end of the 2023 financial year, our company’s revenue stood at N16.5 billion.

“We have also grown our gross profit from N4.3 billion in 2022 to  N8.2 billion in the year under review,” he said.

The shareholders at the meeting unanimously approved a dividend of 30k per share, amounting to N406.074 million for the year 2023. 

The shareholders expressed appreciation for the company’s performance and urged the board to focus on new business ideas to further improve performance and ensure increased returns on investment.