To reward its investors and further strengthen its operations, Caverton Offshore Support Group (COSG) has declared N268 million dividends for its shareholders for the 2011 financial year and has also approved a plan for further diversification of its business-lines. These decisions were taken on Thursday (14 June 2012) at the group’s third Annual General Meeting held at the Southern Sun Hotel, Ikoyi, Lagos.
“Despite the tough global and national business environments, the group performed very well in 2011 relative to the preceding years,” said Mr. Aderemi Makanjuola, chairman of the group. “Prospects for the future look even more promising as we are investing for the rainy day and positioning the group to take advantage of expanding opportunities.”
The group, a wholly indigenous conglomerate and leading provider of marine, aviation and logistics support services to the Nigerian oil and gas sector, declared 8k dividend for the 2011 financial year for each of its 3,350,509,750 paid up shares, totaling N268.04 million. This marks a steady increase in return for its shareholders as the group paid five kobo as dividend in 2009 and 7.5k in 2010.