Shareholders of Custodian Investment approve N0.35kobo final dividend

The shareholders of Custodian Investment Plc have approved the final dividend of 35 kobo per share, bringing the total dividend for the year ended 2018 to 45 kobo per every 50 kobo share.

At the Annual General Meeting (AGM) of the company in Lagos on Wednesday, shareholders gathered to receive the audited financial statement for the year ended December; declare a dividend; re-elect directors, among other businesses.

A member of the Independent Shareholder Association of Nigeria (ISAN) Mr Adebayo Adeleke who commended the board and management of the company, said the shareholders have come to celebrate another successful year for Custodian Investment Plc, noting that the dividend been given, 45 Kobo per share was the best in the sector.

According to him, “I’m starting from the note that despite the fact that we had a challenging year in 2018, we’ve been given two kobo with an impressive result.

From an Earning per share of about 119 kobo, we are paying 45 kobo dividend. Coupled with that you’ve paid both interim and final dividend consistently. For 12 years, you’ve never failed to give returns to shareholders.”

Adeleke also commended the performance of the company, noting that the revenue grossed N50 billion, just as the total asset nears N100 billion.

Also, President of the Nigerian Shareholders Solidarity Association (NSSA) Mathew Akinlade applauded board and management of Custodian for the impressive result for the year, especially in the area of cost control.

“Honestly, Custodian Investment Plc is an investor’s delight. When we look at all performance indicators, they are all beautiful – gross earnings, gross premium, interest income. I congratulate you,” Akinlade said.

In her statement, the Chairman of Custodian Investment Plc, Dr Omobola Johnson noted that despite the moderate macroeconomic growth on the domestic front, the company was able to post strong financial performance across all of its business lines and from the subsidiaries.

“We recorded strong top-line growth as gross revenue improved by 16.8 per cent to N50.3 billion.

Similarly, total asset and shareholders’ funds remain strong at N98.1 billion and N41.5 billion with year-on-year growths of 21.5 per cent and 13.9 per cent”, she said.