NASCON Allied Industries Plc has attributed significant growth in the dividend payout by 100 per cent to N2 per share and the company’s impressive run during the year, ending December 31, 2024, to the successful expansion of its market base.
The aggressive expansion, according to the management, led to a significant increase in the company’s sales, with an attendant rise in revenue and profitability.
During the Annual General Meeting, (AGM), in Lagos, shareholders approved the proposed dividend payout of N2 per share just as the company’s chairman, Olakunle Alake identified operational efficiency and strategic initiatives as core elements behind the company’s impressive run during the year.
Alake, while addressing shareholders said: “Our performance has been commendable, a testament to our strategic initiatives, operational efficiencies, and the dedication of our workforce.
We have successfully expanded our market presence, which has been instrumental in driving sales.
“Our continued focus on customer satisfaction and our commitment to delivering high-quality products have allowed us to gain new customers while retaining the loyalty of existing ones.
“During the year, we adopted several strategic initiatives aimed at enabling the company to take advantage of growth opportunities. We demonstrated our commitment to sustainability by encouraging responsible resource use. We also engaged in community development efforts, alongside numerous employee welfare and development programmes.
These efforts reflect our ongoing commitment to value creation for all our stakeholders.”
Managing Director of NASCON, Thabo Mabe, said 2024 was exceptionally positive for the company, stating: “We achieved a profit growth of 14 per cent to N15.6 billion.
“We optimized strategic opportunities that have positioned us for continued growth. Our operational efficiencies have improved, enhancing our overall profitability.”
For the year 2025, he outlined the primary goals, including continuing the revenue growth trajectory, expanding into new markets, and enhancing product lines.
