Transcorp Hilton Board Promises Shareholders Increased Dividend Payouts
By Patience Ikpeme
The board of Transcorp Hilton hotel has assured its shareholders of future improvements in the dividend payments they receive.
Chairman of the Board of Directors, Mr. Emmanuel Nnorom, conveyed this assurance at the 11th Annual General Meeting (AGM) held in Abuja on Thursday.
He noted the positive dividend payout for 2024, stating, “The 2024 dividend we paid was quite good. This year, for 2024, we paid an interim dividend of 10 kobo and today we have approved the 64 kobo, making it 74 kobo.”
Mr. Nnorom drew a comparison with the previous year, stating, “When you compare that with the 2023 when we paid only 20 kobo to shareholders, that’s a 270% increase. And so we will continue to sustain that. One thing with the group, whether Transcop Hotel, Transcop Power or Transcop PLC is that we are constantly returning dividends to shareholders because they are the owners of the company. So there will be improvement, I can assure you.”
He attributed Transcorp Hotels Plc’s success to its ability to adapt and capitalize on market opportunities, even amidst persistent inflation and fluctuating exchange rates. The company’s Profit before tax reached N22.61 billion, marking a 138% year-on-year increase.
Mr. Nnorom also spoke about the company’s stock performance, saying, “The stock price performance was equally outstanding, rising by 65% to close at N116 on December 31, 2024. This milestone firmly positioned Transcorp Hotels Plc as one of the most attractive stocks on the Nigerian Stock Exchange (NGX). These results are a testament to investor confidence in our growth trajectory and prospects.”
He affirmed the company’s commitment to future performance and returns, stating, “We will continue to improve on our performance and shall ensure that it will be sustained in the future. We will continue to improve on our returns to shareholders. We will also continue to invest in other sectors in the economy.”
Regarding ongoing projects, Mr. Nnorom mentioned, “We just mentioned our 5,000 seater capacity event center, the biggest in the country that is already open and many more events are coming through that.” He explained that this event center would generate income through rentals, food and beverage sales, and hotel accommodation.
He also indicated plans for the Transcorp Hotel in Lagos, and potential room additions at the Abuja hotel, with details to be communicated later. The Abuja hotel currently operates with 670 rooms and an average occupancy rate of 84%, which he noted is very high, sometimes reaching 100% on weekends. The hotel anticipates hosting major events by June.
Mr. Nnorom conveyed Transcorp Hotels Plc’s focus on employee development, stating, “At Transcorp Hotels Plc, We prioritized the development of our people, equipping them with the skills and tools needed to thrive in an increasingly competitive industry.” He also noted investments in digital transformation to enhance guest experiences through seamless, personalized services.
He touched upon the trend of advanced personalization in the hospitality industry, driven by demand for tailored guest experiences, noting that AI and data analytics are being used to customize offerings and communications, potentially increasing guest satisfaction and loyalty.
Mr. Nnorom also addressed the continued importance of sustainability and regenerative practices in the industry, aligning with the values of modern travelers.
He cited a survey indicating that over 78% of global travelers prefer accommodations that actively embrace sustainability, with hotels integrating renewable energy and regenerative practices to reduce their environmental impact and resonate with eco-conscious guests.
