Finance

Firm assures shareholders of sustained dividend

Firm assures shareholders of sustained dividend

The board of CWG has assured its shareholders of sustained dividend payment.

It gave the assurance at the firm’s annual general meeting in Lagos, after the shareholders approved a dividend per share of 4.0 kobo, and commended the board and management of CWG for improving the company’s fortunes, despite the challenges.

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A statement said the audited report and accounts for the year ended December 31, 2022, showed that the CWG recorded 21.3 per cent growth in total turnover, and gross profit rose by 31.4 per cent over 2021.

While earnings before tax increased by 20.3 percent, while the group’s total assets grew 58.4 per cent from N9.17bn in 2021 to N14.53bn in 2022.

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Addressing the shareholders, the Chairman CWG Plc, Mr Philip Obioha, said the group recorded remarkable performance in 2022, as it consolidated the gains of its investments in its payment platform and subscription service businesses.

He noted that the group made significant strides in its businesses in the past year, including onboarding four new banks on its Finedge Core banking application platform on a subscription service basis, while also driving its infrastructure as a service business with the addition of new customers to its subscribers’ list.

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Punch

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