BABAJIDE OKEOWO
The board and management of NASCON Allied Industries Plc have received commendation from the shareholders of the company over its good performance despite the challenges in the operating environment.
The commendation came at the annual general meeting of the company in Lagos last week.
National Coordinator, Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, said the quality of the products from NASCON were of high standards comparable to similar global products. She also lauded the board and management for the company’s dividend policy noting that the company has paid dividends consistently for the past 11 years.
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Similarly, the founder, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, noted that the board and management of NASCON have been able to sustain dividend payment despite the harsh operating environment, due to Apapa Wharf gridlock and the downturn in the national economy.
According to him, while other companies are lamenting and cutting down on production, NASCON is rewarding shareholders with a good dividend.
In her response, the Executive Director, Commercial, NASCON Allied Industries Plc, Fatima Aliko-Dangote, said the company was targeting more market share in the food sector through increased product range and innovation.
According to her, the company, which added three new products in 2018, would be introducing more products this year as part of strategies to meet the needs of its varied customer base. She said NASCON products are widely accepted in the market.
On his part, the Managing Director, NASCON Allied Industries Plc, Paul Farrer said the company demonstrated resilience in the challenging environment of 2018 and is now strongly focused on capacity growth and increased market penetration.
