Shareholders cheer new Leadership as Julius Berger pays N5.2bn dividend at 55th AGM

It was a moment of excitement and optimism as shareholders of Julius Berger Nigeria Plc gathered for the company’s 55th Annual General Meeting (AGM) held at the Shehu Musa Yar’Adua Centre, Abuja.

The highlight of the meeting was the warm reception given to the company’s new Board Chairman, Engr. Goni Sheikh, and the new Managing Director, Engr. Dr. Peer Lubasch, who both presided over their first AGM since assuming office.

The shareholders showed their satisfaction and high expectations for the new leadership, with many openly expressing confidence that the company’s future was now in capable hands. One shareholder from the Southwest region declared that while previous leaders did well, the combination of Goni Sheikh and Peer Lubasch would take Julius Berger to greater heights.

In a clear show of support, the shareholders unanimously approved all resolutions presented by the board, including the payment of a total gross dividend of N5.2 billion, the appointment of new Executive and Non-Executive Directors, and the formal appointment of Goni Sheikh as a Director of the company.

Speaking at the AGM, Managing Director Peer Lubasch acknowledged the tough socio-economic challenges facing the business environment in Nigeria, including currency devaluation, forex scarcity, rising construction costs, inflation, fuel price hikes, high lending rates, and security issues. Despite these difficulties, he affirmed that Julius Berger remained resilient and was turning these challenges into new opportunities.

Lubasch noted that the company achieved record-high revenue, expanded its asset base, and sustained stability in both new and ongoing projects during the financial year under review. He attributed this success to Julius Berger’s well-defined strategy, the collaboration of its subsidiaries, and a proactive diversification policy.

On the company’s regional expansion efforts, Lubasch revealed that two new contracts had been secured in the Republic of Benin, describing it as a major step in Julius Berger’s regional diversification drive. He reassured shareholders that despite prevailing economic difficulties, the company would continue to deliver value through disciplined strategy execution, agile leadership, and adherence to its core values of excellence, responsibility, courage, and collaboration.

In conclusion, the Managing Director expressed confidence in the company’s ability to maintain its reputation for excellence and sustainable operations. He assured stakeholders that no matter the challenges ahead, Julius Berger would remain committed to innovation and global standards in the construction industry.