First HoldCo Plc’s board of directors approved a total dividend payment of N25.13 billion for the financial year ending December 31, 2024, at the company’s 13th Annual General Meeting. This significant payout translates to N0.60 per 50 kobo ordinary share, subject to withholding tax, as disclosed in a recent filing with the Nigerian Exchange Limited.
During the meeting, the company’s secretary, Adewale Arogundade, highlighted key resolutions, including the approval of the audited accounts for the year 2024. The meeting also reviewed and accepted reports from the directors, auditors, board appraisers, and audit committee, demonstrating the company’s commitment to transparency and good governance.
READ ALSO: NEM Insurance hits N100bn gross premium
The AGM further authorized the directors to determine the remuneration and expenses of Messrs. KPMG Professional Services, the company’s auditor, for the period ending at the next Annual General Meeting. Additionally, the meeting approved the disclosed remuneration of the company’s managers, ensuring alignment with industry standards.
In a significant move to strengthen its governance structure, the AGM confirmed the appointment of five new members to the statutory audit committee: Hauwa Umar, Mathew Akinlade, Christopher Ogba, Peter Aliogo, and Julius Omodayo-Owotuga. This development underscores the company’s dedication to maintaining a robust audit framework.
The impressive financial performance of First HoldCo Plc was also noteworthy, with a remarkable 106% increase in gross earnings for the financial year ended December 31, 2024. The company’s gross earnings soared to N3.21 trillion, up from N1.56 trillion recorded in 2023, as reported . This outstanding growth highlights the company’s resilience and strategic positioning in the market.
Discover more from The Industry
Subscribe to get the latest posts sent to your email.
