Chairman, Kajola Integrated Investment Plc, Prof. Wale Omole
The management of Kajola Integrated Investment Plc has stated that the company embarked on various strategic initiatives to enhance profit and deliver good returns to shareholders in 2013.
The company’s Chairman, Prof. Wale Omole, who made this known in a chat with newsmen, assured its shareholders of sustainable dividend pay-out from the next financial year.
He attributed the company’s inability to pay dividend to the various expansion projects it has been executing on as part of its commitment to continuously grow the company.
According to him, the company has invested more than half of its total earnings into Kajola’s Terrace Apartments in Ikeja, while reconstruction work is ongoing at the company’s property in Yaba, for the take-off of Kajola Confectionary.
“Our property and bakery companies will come on board very soon, it will be completed by next year, So, it’s better to operate carefully and diligently, calculating your risk and knowing that it’s not just a once and for all thing, it’s a sustainability thing; so pretty soon, it will be getting better.
“When you are growing a company, little profit is not good enough, it’s better to plough that little profit back into strengthening your operational base, which will enable you make sustainable dividend,” he said.