eTranzact pays 10k per share dividend on N449m profits for 2016

eTranzact, the Nigeria electronic payment company, Thursday, held a successful 2016 annual general meeting in Lagos, the country’s commercial capital where shareholders voted for the payment of 10 kobo per share dividend presented to them by the board.

The dividend payment comes on the back of pre-tax profit of N449.4 million made during the full 2016 financial year on a 20 percent growth in grow earnings to N10.4 billion.

A Proshare webTV coverage monitored by Businessamlive reports that eTranzact’s chairman, Felix Ohiwerei said revenue growth resulted from strengthened collaborations with partner banks, major innovations across its mobile banking suite, new product releases and strategic alliances.

“As a company we continue to demonstrate our understanding of the benefits of strategic alliances and the potential business opportunities these can create. We have fostered new relationships, enhanced and deepened existing ones and explored newer opportunities within our ongoing associations with existing partners. Our alliances contributed significantly to some of the improved financial performance we achieved in 2016,” Ohiwerei said.

eTranzact, according to him was positioned to be a regional leader in the medium term and in the long term, a global leader in the electronic and mobile payment industry, adding that he has confidence that this will happen as envisaged.

Ohiwerei retires this year as pioneer chairman of the company. He thanked the board, shareholders and staff of the company for their support and efforts in building a dynamic and world class organization.

Valentine Obi, managing director and chief executive officer of eTranzact praised Ohiwerei for his outstanding service and commitment to the vision, mission and values of the company.

“Ohiwerei has over the years shown us the true meaning of value based leadership demonstrating a continuous commitment to excellence, strategic planning and hard work,” Obi said.

He described 2016 as a year that required special focus in the area of launching new products and extending the philosophy of making payments simple to other more complex industries as part of its innovation drive.