{"id":25516,"date":"2018-08-08T14:42:32","date_gmt":"2018-08-08T13:42:32","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=25516"},"modified":"2018-08-08T14:42:32","modified_gmt":"2018-08-08T13:42:32","slug":"c-i-leasing-md-assures-shareholders-of-dividend-payment","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/c-i-leasing-md-assures-shareholders-of-dividend-payment\/","title":{"rendered":"C &amp; I Leasing Shareholders To Enjoy Dividend Payment Soon&#8230;MD Assures"},"content":{"rendered":"<p>Barring any unforeseen circumstances in the domestic economy, shareholders of C &amp; I Leasing Plc will have course to smile at the end the current financial year as the company has promised to pay dividend to investors.<\/p>\n<p>Managing Director\/Chief Executive Officer of C &amp; I Leasing Plc, Mr. Andrew Otike-Odibi gave this assurance on Tuesday at the company\u2019s \u2018Facts Behind the Figures\u2019 presentation at the Nigerian Stock Exchange (NSE) in Lagos.<\/p>\n<p>According to Otike-Odibi, the company did not pay dividend for two year due to retention of funds to grow the business, saying it is stronger now and in a better position declare a dividend.<\/p>\n<p>\u201cWe appreciate the fact that the business has not paid dividend in the past two years. Last year we were all very expectant for that to happen but it did not happen. One of the things we did last year was to set aside money to grow the business. It did not make sense for to raise fresh capital and then begin paying dividend. We needed to plough back funds as much as possible. But that said and done, our plan is to pay dividend by the end of this financial year. The business is stronger now and cash flows are better. Shareholders have been more than magnanimous because with the patience they have excercised so far, we will definitely want to reward them with dividend and given the way our share price is moving, they will also enjoy capital appreciation,\u201d Otike-Odibi said.<\/p>\n<p>Reviewing the performance of the company for the half year ended June 30, 2018, the MD\/CEO said gross earnings of N12.8 billion, was recorded, showing an increase of 11 per cent above the same period in 2017. He explained that the gross income was driven by growth the company\u2019s rental income on the back of volume increase in the fleet and marine business.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>\u201cProfit after tax of N682.2 million, up 17.6 per cent was achieved through a combination of cost reduction initiatives and optimal utilization of assets. We successfully raised a N7 billion bond, the largest ever raised in the company. The funds will be used for debt refinancing and business expansion,\u201d he said.<\/p>\n<p>He projected that the company would record a turnover of N26.319 billion at the end of 2018, N30.268 billion in 2019, N36.321 billion in 2020 and N45.401 billion in 2011. Profit after tax has been projected to be N1.522 billion in 2018, N1.750 billion in 2019, N2.1 billion in 2020 and N2.625 billion in 2021.<\/p>\n<p>Going forward, Otike-Odibi said the company would improved on implemented cost optimization initiatives; maintain operating expenses growth rate below inflation rate; seek opportunities for growth to improve visibility to customers and potential business partners; digitize operations and entrench collaboration across all units; diversify the outsourcing business to business process outsourcing and expansion of marine business to Ghana.<\/p>\n<div class=\"at-below-post addthis_tool\"><\/div>\n<div class=\"td-g-rec td-g-rec-id-content_bottom td_uid_5_5b6aecad2702c_rand td_block_template_1 \"><\/div>\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Barring any unforeseen circumstances in the domestic economy, shareholders of C &amp; I Leasing Plc will have course to smile at the end the current financial year as the company has promised to pay dividend to investors. Managing Director\/Chief Executive Officer of C &amp; I Leasing Plc, Mr. Andrew Otike-Odibi gave this assurance on Tuesday &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":25517,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[4336],"coauthors":[2391],"class_list":["post-25516","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-c-i-leasing-shareholders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>C &amp; I Leasing Shareholders To Enjoy Dividend Payment Soon...MD Assures - National Wire<\/title>\n<meta name=\"description\" content=\"Barring any unforeseen circumstances in the domestic economy, shareholders of C &amp; 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