ARUSHA, Sept. 1 -- NICOL Investment Plc shareholders are set to receive a significant boost to their returns after the companys Annual General Meeting approved a 38 per cent dividend increase.

The dividend was raised from 53/- per share last year to 70/-, lifting the total payout to 4.3bn/- compared with 3.2bn/- distributed in the previous year, reflecting a year of strong financial recovery and disciplined strategic execution.

NICOL Chief Executive Officer (CEO), Erasto Ngamilaga, said at the meeting over the weekend that last year the Group recorded a profit after tax of 9.1bn/-, a significant increase of 34 per cent compared to 6.8bn/- reported in 2023.

“This was supported by stronger earnings from our investment portfolios, r...