Presco approves N44.66 dividend

Presco Plc has approved a final dividend of N14.66 per 50 kobo ordinary share for the financial year ended December 31, 2025, bringing its total dividend payout for the year to N44.66 per share.

The decision was ratified by shareholders at the agro-industrial company’s 33rd Annual General Meeting on Tuesday in Lagos, following a record financial performance. During the period under review, Presco recorded a 59.3 per cent growth in revenue to N330.6bn, while Profit Before Tax climbed 57.1 per cent to N177.9bn. Profit After Tax similarly advanced by 56.1 per cent to N121.4bn, backed by a 43.7 per cent expansion in EBITDA to N211.8bn and a 94.9 per cent surge in total assets to N926.0bn.

A landmark N236.7bn rights issue executed during the year more than doubled the company’s total equity to N442.7bn, significantly strengthening its balance sheet to support ongoing expansion plans across West Africa.

Addressing shareholders, the Chairman of Presco Plc, Rasheed Sarumi, commended the management team for exceptional execution during what he described as a transformational year. He stated, “The record performance delivered in 2025 reflects the strategic choices we have made and the stronger regional platform we are building. As we integrate our operations across Nigeria and Ghana, our focus remains clear: build scale, improve efficiency, and create sustainable long-term value for our shareholders and stakeholders.”

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In line with its expansion drive, Presco acquired the remaining 48 per cent equity stake in Ghana Oil Palm Development Company Limited to secure full ownership, while also acquiring Saro Oil Palm Limited, including the Nsadop and Boki estates in Cross River State.

Speaking on the company’s trajectory, the Managing Director and Chief Executive Officer, Reji George, noted that Presco enters its next growth phase with an integrated regional footprint. He remarked, “Our priority is to convert that scale into measurable efficiencies and stronger performance, while building the people, systems, and capabilities required to sustain growth across West Africa.”

Shareholders also ratified governance changes at the meeting, confirming the appointments of Ademola Adebise, Adewale Arikawe, and Francois VanHoydonck as Directors, alongside the re-election of retiring Directors. The board also acknowledged the retirement of former Managing Director Felix Nwabuko, praising his service to the group.