TDC declares GH¢3m dividend as revenue rises 34% 

By Evelyn ARTHUR, Tema

TDC Ghana Limited has declared a dividend of GH¢3million for the 2024 financial year, reflecting a strong improvement in revenue, profitability and balance-sheet performance.

Revenue rose by 33.67 percent to GH¢130.96million in 2024, up from GH¢97.97million in the previous year. The proposed dividend is subject to shareholder approval.

Speaking at the company’s fifth annual general meeting in Tema, Board Chair Isaac Ashai Odamtten said the results underscore TDC’s financial strength, cash flow resilience and commitment to sustainable value creation.

Total assets increased by 19.03 percent to GH¢733.76million for 2024 from GH¢616.8million in 2023 while shareholders’ funds grew by 12.57 percent, strengthening the company’s balance sheet.

Mr. Odamtten said the board remains committed to a sustainable dividend policy that balances shareholder returns with a need to finance the company’s expansion and urban redevelopment agenda.

He highlighted TDC’s structured regional expansion programme, which targets the delivery of 10,000 affordable housing units across five regions. Work has commenced on the Ho Oxygen City project in Volta Region as part of this initiative.

Managing Director Courage Makafui Nunekpeku said addressing Ghana’s housing deficit requires collaboration across the public and private sectors, stressing that TDC’s mandate is to support rather than compete with other housing initiatives.

He said the company expects to consolidate gains in the coming year through new service offerings – including premium and prestige services, courier services, a 24-hour call centre and a business centre – which have expanded revenue streams and improved operational efficiency.

Mr. Nunekpeku also outlined key projects planned for the period ahead: including additional housing blocks at Kpone, redevelopment of the TDC clubhouse, high-rise residential developments at Community One and Ashaiman and the procurement of an enterprise resource planning system.

The Minister for Works, Housing and Water Resources, Kenneth Gilbert Adjei, described TDC as a strategic vehicle for delivering government’s housing and urban development agenda and pledged continued support to strengthen corporate governance and inclusive housing delivery.

Shareholders adopted the company’s annual report and financial statements after deliberations at the meeting.

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