C & I Leasing shareholders approve dividend and investment plans

Shareholders of C & I Leasing Plc have approved a final dividend at the company’s Annual General Meeting. The payout, subject to regulatory clearance, will be credited electronically to shareholders whose names were captured in the register of members earlier in the year.

This marks an improvement compared to the dividend declared in the previous year, reflecting significant growth in shareholder returns.

The dividend relates to the financial year that ended in December and represents an increase in both total payout and yield compared to the company’s earlier performance.

Beyond the dividend, shareholders also endorsed a proposal for C & I Leasing to invest in the Ghanaian firm Leasafric Logistics Ltd. The plan involves acquiring a majority stake in the company, further strengthening C & I Leasing’s presence in Ghana’s leasing and mobility sector.

Leasafric Logistics, a subsidiary of Leasafric Ghana Plc in which C & I Leasing already holds a controlling interest, provides services such as HR outsourcing, vehicle tracking, fleet management, and driver monitoring.

In addition, shareholders gave approval for the company to raise fresh capital through a corporate bond issuance. Proceeds from the bond will be used to expand business operations and refinance existing debt.

This follows the company’s earlier success with commercial paper issuance under its multi-billion naira program registered with FMDQ. The new fundraising initiative is expected to further strengthen the company’s financial base and support its regional expansion strategy.