Harmony holdings pays N75m dividend to Kwara gov’t
The Group Managing Director of Harmony Holdings Limited, Mr. Tope Daramola had stated that the company since inception till date have paid N75 million inform of direct dividends as profit to the Kwara state government since they took over some of the state owned enterprises.
The GMD made the disclosure during an oversight visit to the company by Kwara state House of Assembly Committee on Finance and Appropriation on Wednesday.
“Kwara express posted N313million in the 1st year of incorporation to Harmony Holdings. Kwara Property when taken at the end of 2013 posted N270million as profit. Between when we started and now we have paid a total of N75million to Kwara state government in form of direct dividends as profit.
We don’t take recurrent money from government on daily running of the company operations. It is the money we generate that we spend and if we don’t make money in a month we don’t pay our salary. Everything that we are spending is internally generated and we use such money on effective running of these subsidiaries,” he said.
Daramola explained that the company aimed at delivery profit and upgrading subsidiary companies under its supervision.
He promised to continue to partner with Kwara state of Assembly in ensuring effective running of Kwara state businesses.
Daramola explained that Harmony Holdings was setup to review global enterprise that Kwara state government have interest in. Access Bank has applauded its local investors for actively taking part in the recently completed Rights Issue of which the bank raised N41.7 billion.
An Executive Director of the bank, Roosevelt Ogbonna stated this during a briefing with journalists in Lagos saying, the bank was satisfied with the participation of the local investors and promised that the bank will always continue to keep the momentum of playing big in the sector.
According to him, “The Rights Issue has been completed and we have listed new shares on the floor of The Nigerian Stock Exchange. We are grateful to the strong participation of the local investors.