Transcorp Hotels Plc has announced a total dividend payout of N7.57 billion for the 2024 financial year, following a strong year of growth and profitability. Shareholders approved the final dividend of 64 kobo per share—amounting to N6.56 billion—during the company’s 11th Annual General Meeting (AGM) held yesterday. With an interim dividend of 10 kobo already paid at mid-year, the total dividend for the year stands at 74 kobo per share.
Speaking at the AGM, Chairman Emmanuel Nnorom highlighted the company’s remarkable achievements in revenue generation, cost management, and market positioning, describing them as clear indicators of Transcorp Hotels’ commitment to long-term value creation.
According to Nnorom, Transcorp Hotels posted a gross revenue of N70.13 billion in 2024, a sharp rise from N41.46 billion recorded in 2023. The company also recorded a profit before tax (PBT) of N22.61 billion, representing a 138 percent increase year-on-year.
This growth, he noted, stemmed from the company’s effective pricing strategy, its adaptability to market trends, and resilience in the face of inflation and exchange rate volatility.
Stock market performance was also impressive, with Transcorp Hotels’ share price rising by 65 percent to close at N116 as of December 31, 2024. “This milestone firmly positions Transcorp Hotels Plc as one of the most attractive stocks on the Nigerian Exchange (NGX),” said Nnorom.
He also underscored that the company’s strategy going into 2025 includes scaling innovation, improving customer engagement, and reinforcing its leadership in the hospitality sector.
Key investments in 2024 included facility upgrades and the introduction of new culinary and service concepts. These efforts contributed to significant improvements in guest satisfaction, helping the hotel maintain its number-one spot on TripAdvisor in value and experience from July 2024 to date.
Newly appointed Managing Director/Chief Executive Officer, Uzoamaka Oshogwe, echoed this sentiment, promising to build on the company’s progress. “As we step into 2025, we reaffirm our promise to innovate, personalise, and exceed expectations at every touchpoint,” she said.
Oshogwe acknowledged the challenges of Nigeria’s evolving economy but framed them as opportunities for growth. She highlighted the increasing importance of hospitality in job creation and regional economic integration across Africa.
With plans to embrace technology and streamline operations, Oshogwe aims to elevate guest experience through faster check-in processes and personalised services. “We want every guest to feel like they’re the only one in the hotel,” she said.
Looking ahead, Transcorp Hotels Plc is focused on sustaining its growth trajectory and shaping the future of African hospitality through operational agility and customer-driven innovation.
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