CSCS Shareholders Approve N1.78 Dividend, Other Key Resolutions
Kayode Tokede
The shareholders of Central Securities Clearing System Plc (CSCS), have approved the management’s N1.78 per share dividend for 2025 financial year and other resolutions at the company’s 32nd Annual General Meeting (AGM) held in Lagos.
The approved dividend amounted to N8.9 billion.
The shareholders also approved the appointment of Mr Shehu Shantali as an Executive Director and Mr Kennedy Uzoka as a Non-Executive Director. Also, Mr Temi Popoola, Mr Nonso Okpala and Mr Samuel Onukwue who retired by rotation were re-elected as Non-Executive Directors of the company.
Speaking at the AGM, Mr Adebayo Aderemi, a shareholder urged the company to consider expanding its operations beyond Nigeria.
The National Coordinator of the Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, emphasised the need for CSCS to adopt a more global outlook, noting that the workforce and human capacity required to achieve this were readily available.
Chairman of the company’s Board of Directors, Mr Temi Popoola said in spite of the cost pressures and foreign exchange-related impacts during the year, the company delivered resilient financial performance.
He explained that this was underpinned by increased market activity and disciplined execution.
“In line with the company’s performance and commitment to shareholder value, the board and the shareholders have approved a dividend of N1.78 per share. This reflects our balanced approach to delivering consistent returns while reinvesting to support long-term growth. Going forward, the issue of increase in dividend is non-negotiable,” he said.
Speaking also, Managing Director of CSCS, Mr Shehu Shantali, said that the company’s revenue increased significantly by 66 per cent to N23.21 billion.
According to him, this reflected sustained market activity and growth across the company’s core service lines. He said the company’s operating profit rose significantly to N8.71 billion, expanding its operating margin to 37.5 per cent compared to 10.7 per cent in the prior year.
