Geregu Power Plc has recommended the payment of a dividend of N9 per share for the 2025 financial year, subject to the approval of shareholders at the next annual general meeting.
The power generation company made the disclosure in a regulatory filing on Friday as part of the outcome of a Thursday board meeting at which its audited financial statements for last year were approved.
The planned cash distribution translates into a total payout of N22.5 billion, representing a 5.9 per cent increase over the amount it paid shareholders for the 2024 financial year.
“The closed period earlier communicated for trading in the shares of the company by Insiders and their connected persons will be lifted twenty-four (24) hours after the release of the Audited Financial Statements and Accounts for the year ended 31 December 2025,” the statement said.
Last month, Femi Otedola, the chairman of First HoldCo Plc, sold its majority shareholding in the power utility to Abuja-based Ma’am Energy Limited in a deal valued at $750 million. According to insiders, a group of lenders led by Zenith Bank facilitated the transaction, with BlackBirch Capital acting as the financial adviser.
Geregu Power reported a 3.8 per cent jump in profit after tax to N25.1 billion for the first nine months of 2025, compared to the same period of 2024.
Revenue for the period leapt by 16.8 per cent to N131.5 billion on the back of a moderate improvement in the income from energy sold. Profit before tax slightly climbed to N37.5 billion from N36.3 billion a year earlier.
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Assets totalled N273.2 billion at the end of the review period, up by 21.4 per cent from N243.5 billion as of December 2024.
Geregu Power is backed by the Africa Export and Import Bank’s Fund for Export Development in Africa and the State Grid Corporation of China. Market capitalisation at the end of trade on Friday stood at N2.9 trillion.
