O’dua in­vest­ment earns N698m, ap­proves N277m div­i­dend for share­hold­ers

Daily Trust - - BUSINESS - From Jeremiah Oke, Ibadan

The O’dua In­vest­ment Com­pany Lim­ited has de­clared the sum of N698 mil­lion as profit for the fi­nan­cial year ended in De­cem­ber, 2017, fol­low­ing the re­lease of the com­pany’s re­sults on Wed­nes­day.

The group Chair­man, En­gi­neer Olu­sola Ak­in­wunmi who de­clared this at the 36th an­nual gen­eral meet­ing for the said year noted that the share­hold­ers of the com­pany had ap­proved pay­ment of N277.78 mil­lion as div­i­dend.

Ac­cord­ing to him, the group rev­enue of N4.068bil­lion in 2017 was amounted to a 3.8 per­cent in­crease over that of 2016 which recorded N3.918bil­lion.

Ak­in­wunmi as­sured stake­hold­ers and di­rec­tors of the com­pany of its com­mit­ment to strict ad­her­ence to high­est stan­dard of cor­po­rate gov­er­nance lead­er­ship.

Speak­ing on the ef­fort of the com­pany to re­vive it’s agri­cul­tural in­vest­ments, Ak­in­wunmi said Odua has em­barked on full buy­ing back of mi­nor­ity hold­ing, lead­ing to 100 per­cent own­er­ship of one of the mori­bund man­u­fac­tur­ing out­fit in the group, Co­coa In­dus­try Lim­ited, Ikeja for bet­ter util­i­sa­tion of its fa­cil­i­ties in joint ven­tures. and eth­i­cal

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