Shareholders of CWG Plc have approved a dividend payout of 39 kobo per share to shareholders following a significant financial performance in 2024.

The payout, declared at the company’s 20th Annual General Meeting (AGM) held in Lagos, represented more than double of the 16 kobo paid in the previous financial year.

Shareholders commended the technology firm for its consistent growth and expressed optimism for even better returns in subsequent years.

The company’s revenue surged by 97 percent, rising from N23.53 billion in 2023 to N46.35 billion in 2024. Profit after tax saw a dramatic increase of 428 percent, climbing from N576.08 million to N3.04 billion. The remarkable performance was attributed to strategic investments, operational efficiency, and increased revenue from regional subsidiaries.

CWG Ghana and CWG Uganda played a crucial role in the group’s performance. CWG Ghana generated N8.44 billion in revenue, marking a 104.37 percent increase, while CWG Uganda posted a 106.79 percent growth with revenue of N7.34 billion in 2024.

SOURCE: THE NATION