Medview Airline to Pay N292m Dividend for 2016
Medview Airline Plc has recommended a dividend of N292 million for shareholders in fulfillment of its promise to reward investors regularly. The company got listed on the Nigerian Stock Exchange (NSE) January 31 with its Managing Director/CEO, Alhaji Muneer Bankole, assuring capital market stakeholders that unlike past airlines, Medview would continue to create and deliver value for all stakeholders.
And the board of directors of the company, which met on March 24, 2017 in Lagos to approve the financial results, also recommended a dividend of N292 million. The dividend, translates to three kobo per share.
According to market operators, unlike other airlines that got listed and delisted without adequate returns to shareholders, Medview is keeping to its promise of adding value to all stakeholders.
Audited results of Medview showed a turnover of N26 billion in 2016, up from N14.1 billion in 2015. The company ended with a profit of N772.9 million compared in 2016, compared with N728.5 million in 2015, while total assets of Medview increased to N15.4 billion, up from N12 billion it was in 2015.
Bankole had, during the listing of the company’s shares on the floor of the NSE, had assured Medview is a company that has been known for excellent services delivery, stressing that the service excellence would be replicated in the company dealing with investors and other market stakeholders.
He said that the future of the aviation industry is very bright and Medview was positioning to be a leader hence the decision to list on the NSE.
Bankole explained that the listing will: enhance the corporate value and brand image of the company; give it better access to long term capital from range of local and international investors; give it better clout and rating when obtaining loans from financial institutions; boost the international image and profile of the company and boost its corporate governance and accountability.
Having succeeded in establishing its operations in the Anglophone countries, Medview is set to expand its services to Francophone countries in the West African coast.
According to the MD, the airline would expand its operations to Dakar (Senegal), Conakry (Guinea) and Abidjan (Cote D’Ivoire) in the next two months, noting that the airline has already commenced Lome (Togo) route.
He said the prospects are very bright for the company because travelling by air is the most convenient for now and there is high demand for air travel.
“To carry cargo from Lagos to Abuja is 45 minutes; London is six hours even by ship you will be there for three months. Air travel is the only best way you can move people and communicate to the next neigbhour,” he said.