Med-View declares N29.25m dividend, Caverton posts profit

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Stanley Opara

Med-view Airline Plc has declared a dividend payout of N29.25m, representing three kobo per ordinary share to its shareholders from May 19, 2017.

The decision was taken after the company’s shareholders approved the payout at its first Annual General Meeting held in Lagos.

The shareholders also authorised the company to raise an additional capital to expand operation.

The airline, therefore, said it would raise funds through debt instrument or a combination of private placement and right issues, among others.

The Chief Executive Officer of the airline, Alhaji Muneer Bankole, who responded to questions and input from the shareholders, said Med-view would acquire three aircraft to strengthen its international operations.

According to him, the aircraft will include a Boeing 777-200 and a 737-800, which will strengthen its entry into routes like Dubai.

Meanwhile, Caverton Offshore Support Group Plc posted a profit after tax of N612.284m for the 2016 financial year, as against N988.08m reported in 2015.

Its revenue for 2016 stood at N19.31bn, as against N23.219bn recorded in 2015.

But the shareholders at the company’s Annual General Meeting in Lagos said they were optimistic that the maintenance, repair and overhaul facility planned by the company would boost its revenue going forward and generate more returns for shareholders.

This facility is expected to serve different airlines in the area of fleet maintenance.

The Chairman of the company, Mr. Aderemi Makanjuola, assured the shareholders that the facility would be completed and fully operational in 2018.”

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