NAHCO,FCMB,Learn Africa Plc win Awards for Consistent Dividend Payment

The second edition of Third Observers Nigeria Ltd annual awards for companies that consistently pay dividend to shareholders saw the trio of NAHCO,FCMB and Learn Africa Plc carry the day.

Speaking on the coys she described as Bronze Award winners,the Chairman of Third Observers,Dame Pricilla Kuye said the companies were rewarded because they consistently paid dividends for between 10 to 15 years.

She told those who graced the event,which held at Muson Center,Onikan,Lagos (which included top shareholders and captains of industry)that the company she chairs is out to encourage those establishments that make their shareholders glad at every end of the financial year.

Learn Africa Plc,according to the data provided by the organisers of the award did not fail to pay dividends for 15years from 2001 when it paid 25kobo to 2016 when it paid a dividend of 10kobo.

Also,another winner was First City Monument Bank(FCMB)Plc which has paid dividend to shareholders consecutively since 2005 when it paid 75kobo to 2018 when it paid 11kobo.

And finally Nigerian Aviation Handling Company(NAHCO Aviance)Plc which has been paying dividend without fail from 2006 when it paid 30kobo to shareholders till 2017 when the dividend pay out stood at 25kobo.

According to the founder of Independent Shareholders Association of Nigeria(ISAN),Sir Sunny Nwosu and Vice Chairman of Third Observer Ltd the whole effort is to encourage dividend payment among quoted companies on the floor of the exchange.

He posited that dividend payment is still a critical yardstick in assessing performance of firms in the capital market,hinting that sound companies should pay good dividends to remain respected brands.

The Managing Director of Third Observer,Abiodu Ayodele had stressed elsewhere that the”key benefits of the dividend payment for Nigeria’s listed companies include promoting the culture of dividend declaration by listed companies in Nigeria,encouraging annual good peformance “in addition to promoting the nation’s capital market.

Sir Nwosu had earlier said that the good thing about the award ceremony is that it is recognised by both the Securities &Exchange Commission(SEC) and the Nigerian Stock Exchage(NSE).

The event was well attended by the popular figures of the capital market and the shareholders community.