Julius Berger pays N5.2bn dividend, expands into Benin Republic

Julius Berger Nigeria Plc has announced the payment of a N5.2 billion gross dividend to its shareholders, reaffirming its financial resilience despite Nigeria’s volatile economic environment.

The announcement was made during the company’s 55th Annual General Meeting (AGM), where shareholders expressed strong confidence in the company’s leadership under the newly appointed Board Chairman, Engr. Goni Sheikh, and Managing Director, Engr. Peer Lubasch.

In his address, Engr. Lubasch acknowledged the tough operating landscape marked by currency devaluation, forex scarcity, surging inflation, rising fuel prices, high lending rates, and persistent security challenges.

Despite these hurdles, he said the company has continued to deliver on its strategic goals.

“As a company, we have continued to demonstrate resilience, navigating headwinds by adapting with an eye toward efficiency and sustainable growth,” Lubasch stated.

He also highlighted Julius Berger’s regional diversification strategy, noting that the company has secured two new contracts in the Republic of Benin, marking its expansion beyond Nigeria’s borders.

The MD assured shareholders of the company’s continued progress through agile leadership, a committed workforce, and robust execution of its strategic vision.

Shareholders, in turn, voiced their satisfaction with the company’s direction, unanimously approving all Board resolutions.

These included the declaration of dividends, the appointment of new Executive and Non-Executive Directors, and the re-election of existing board members, including the confirmation of Goni Sheikh as a Director.

The AGM underscored Julius Berger’s commitment to shareholder value and its focus on sustainable growth amid challenging macroeconomic conditions.