Transcorp Hotels Plc has declared a dividend of 37 kobo per share despite what the company’s board of directors and management termed a relatively flat year ending December 2014.

Shareholders at the Annual General Meeting in Abuja on Wednesday commended the management for increased dividend coming only five months after the company’s public listing as well as for expansion projects aimed at increasing returns to the shareholders.

The company, with a hotel that has won the prestigious world travel awards for the second time running, offered 800 million ordinary shares of 50 kobo each at 10 Naira per share upon listing late 2014

Shareholders met with the board of directors and executive management for ordinary and special resolutions geared towards moving the company forward. Key among the issues discussed was the declaration of the dividend of 37 kobo per share which was great news to shareholders.

Operational excellence has been their deciding factor for the remarkable achievement recorded by the Transcorp Hotels in 2014 with total assets growing to 69 billion Naira in 2014 from 64 billion Naira in 2013, a mark they are set to surpass moving forward.