NAHCO pays ₦665 million dividend as turnover grows 44%

Nigerian Aviation Handling Company, NAHCO Plc, group turnover grew 44 percent to ₦10.2 billion in the financial year ending December 2021 against the N7.1 billion it earned in 2020.

The Board has announced a gross dividend of 41 kobo per ordinary share, amounting to ₦665 million.

NAHCO is an investment holding company in Nigeria with business interests in aviation services and support. This includes aviation cargo, aircraft handling, passenger facilitation, crew transportation and aviation training.

Speaking at the company’s 41st Annual General Meeting (AGM) in Lagos, the Chairman of the Group, Seinde Fadeni, assured that the company would continue to be the leading ground handling company in Africa in terms of market share, client base, revenue, and profitability.

He said: “The NAHCO Group earned ₦924,855 million Profit Before Tax (PBT) in 2021, showing 156 percent increase from the previous year, which was N361.1 million.

“Closing the second year of unprecedented disruption, low interest rates and market volatility, NAHCO Plc earned N10.2 billion in revenue with improved capital base, growth in customers’ deposits, liquidity, and improved gearing ratios.”