DELVE INTO AFRICAN WEALTH
DON'T MISS A BEAT
Subscribe now
Skip to content
Bella Disu
Bella Disu

Table of Contents


Key Points:


  • Julius Berger distributes N4.8 billion ($3.25 million) to shareholders for FY 2023, up from N4 billion ($2.7 million) the previous year.
  • Profits soar 58.61% to N12.55 billion ($8.5 million) in 2023, driven by increased interest income amid marginal revenue growth.
  • With indirect stakes, Bella Disu, Julius Berger’s director and telecoms leader, benefits from dividends.

Julius Berger, a leading construction group linked to Nigerian business executive Bella Disu, has distributed a final dividend of N4.8 billion ($3.25 million) to its shareholders for the 2023 fiscal year. The dividend, amounting to N3 ($0.002) per share, was approved at the 54th Annual General Meeting held on June 20, 2024, at the Shehu Musa Yar’Adua Center in Abuja.

The dividend, distributed on Friday, June 21, marks a notable increase from the previous year’s payout of N2.5 ($0.0017) per share or N4 billion ($2.7 million). This impressive dividend distribution reflects Julius Berger’s outstanding financial performance throughout 2023, underscoring its commitment to rewarding investors amidst unfavorable economic conditions.

Julius Berger’s profits surge 58.61% in 2023

Julius Berger reported a substantial 58.61 percent surge in profits, climbing from N7.91 billion ($5.34 million) in 2022 to N12.55 billion ($8.5 million) in 2023. Despite a marginal revenue increase of 56 basis points from N440.98 billion ($298.2 million) to N443.44 billion ($300 million), the company’s profitability was buoyed by a significant N6.99 billion ($4.72 million) boost from interest income during the year.

Under the strategic leadership of key executives and directors, including Bella Disu, Julius Berger experienced significant growth in retained earnings, climbing from N39.89 billion ($26.97 million) at the end of 2022 to N48.82 billion ($33.01 million) by the close of 2023. Total assets also grew impressively from N506.27 billion ($342.3 million) to N686.94 billion ($464.5 million), reflecting sustained expansion and operational efficiency.

Bella Disu’s indirect stake yields $1.5 million in dividends

As a leading shareholder in Julius Berger, Bella Disu, the Executive Vice Chairperson of Globacom Limited, Nigeria’s second-largest telecoms group, has undoubtedly benefited from the company’s strong dividend payouts.

Disu, born Belinda Ajoke Olubunmi Adenuga, holds an indirect 25.37 percent stake in Julius Berger through Goldstone Estates Limited (19.87 percent or 317,893,428 shares) and Ibile Holdings Limited (5.5 percent or 88,000,000 shares).

This stake has yielded a total of N2.23 billion ($1.5 million) in dividends over the past two years, while Julius Berger’s total dividend payout during that period amounted to N8.8 billion ($5.95 million).

Disu’s multifaceted role and family legacy

Disu, who has been a director at Julius Berger since June 30, 2017, actively shapes the company’s strategic direction, oversees remuneration policies, and contributes to board audit functions. Her primary focus, however, lies in spearheading Globacom’s expansion and driving its strategic initiatives to bolster technological advancements across Nigeria and Africa.

Building on the legacy of her father, Dr. Mike Adenuga Jr., Africa’s fifth-richest billionaire with a net worth of $6.7 billion, the leading Nigerian business executive continues to play a pivotal role in advancing her family’s expansive multibillion-dollar business empire, encompassing telecoms, property development, manufacturing, and construction, to new heights of success. 

Latest