By PETER EGWUATU
Shareholders of Courteville Business Solutions Plc , have advised the Board of the company to increase subsequent dividend payment being recommended for approval at Annual General Meeting (AGM) , even as they commended the company’s consistent dividend policy.
Speaking at the company’ s 7Th AGM held in Lagos, Sir Sunny Nwosu, National Coordinator Independent Shareholders Association of Nigeria (ISAN ) declared that Courteville has consistently rewarded investors with consistent dividend, but called for enhanced dividend.
According to him, “I am happy about their policy that something goes to the shareholders; but I am beginning to be very uncomfortable about it; because it’s becoming too conservative; extra one (1) Kobo every year, they should try and increase it the more.”
He advised the Board of Courteville to review their dividend policy in order to endear the Company to shareholders.
In the same vein, the shareholders at the AGM, urged the company to reward them with bonus shares; apart from the cash dividend.
In his reaction, Bola Akindele, Group Managing Director (GMD) of Courteville said conservatism has helped the Company achieve whatever they have achieved so far.
According to him, the company has not been too extravagant in spending money in getting the business done, “we have just tried to maintain the status of being reasonable in the way we conduct our business. We will pay dividend according to the profit made by the company, we will also consider the position of the Company’s Balance Sheet at the end of each financial year before proposing any dividend” he said.
Akindele further affirmed that the company will not borrow to pay dividend; but rather do so within the profit available to it, with time enhanced dividend will be paid considering the company’s performance and as the country’s economic situation improves.
“When the economy and business of Courteville improves, then the company will reward investors with enhanced dividends” he said.
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