The company said in a statement that the payment was approved at the Annual General Meeting in Abuja.
It said the final dividend translated to 15 kobo per ordinary share, which was a 20 per cent improvement over the 12 kobo per ordinary share for 2017.
The Chairman, Board of Directors, Mr Emmanuel Nnorom, said, “Transcorp Hotels has exceeded the bar with an impressive turnover of N17.4bn from N13.8bn recorded in 2017, representing an improvement of 26 per cent.
“This is an unprecedented achievement in the history of the company. It is a further demonstration of our ability to adapt quickly to a changing business environment while keeping pace with global best standards in hospitality.”
He also thanked the shareholders for their continued support and faith in the board and management of the company.
The President, New Dimension Shareholders Association, Mr Patrick Ajudua, described Transcorp Hotels as an embodiment of what privatisation in Nigeria should be.
He said the good corporate governance and the presence of a focused management team that was concerned with giving returns to shareholders were some underlying factors behind the company’s continued success.
The Managing Director/Chief Executive Officer, Transcorp Hotels, Mrs Owen Omogiafo, reiterated the company’s commitment to quality and global standard customer experience.
She said, “We are redefining the hospitality landscape in Africa and positioning our continent as a preferred destination for local and international tourists. Our numerous awards and recognition are proof of this.
“Transcorp Hotels will continue to leverage its unique value proposition and proven strategies to exceed 2018 performance.”
She added that growth and efficiency, underpinned by a strong culture of service excellence and cost optimisation, would drive the company in the current year and beyond.