Presco approves N17.1 billion dividend payout to shareholders for 2025

Presco Plc, the agro-industrial giant, has approved a dividend payout of N17.1 billion to shareholders for the 2025 financial year. This decision came after resolutions passed at its Annual General Meeting (AGM) held on September 15, 2026. The resolutions also addressed board appointments, directors' remuneration, and the formation of a new statutory audit committee.

The dividend, payable per 50 kobo ordinary share, will be N14.66, resulting in a total payout of N17.09 billion. This payout is sourced from the company's profits for the year ending December 31, 2025, after accounting for applicable withholding taxes. Notably, shareholders re-elected three directors - Olakanmi Rasheed Sarumi, Abdul Akhor Bello, and Osayi Alile.

Additionally, the AGM approved the appointment of three new directors: Ademola Adebise, Adewale Arikawe, and Francois Van Hoydonck. The board was also authorized to determine the remuneration of KPMG, the company's external auditors, for the fiscal year ending December 31, 2026, totaling N349 million. For the non-executive directors, a total remuneration of N56.38 million was authorized, contingent on their attendance at board and committee meetings.

These decisions follow a robust 2025 financial performance by Presco, which reported a 57.4% increase in profit to N178 billion. Presco has maintained its strong earnings trajectory into 2026, with the company recording a profit before tax of N122.2 billion for the six months ended June 30, 2026, marking a 9.3% increase from N111.9 billion in the same period of 2025.