Agro-industrial giant Presco Plc has approved a dividend payout of N17.1 billion to shareholders for the 2025 financial year.
This follows resolutions passed at its Annual General Meeting held virtually on September 15, 2026.
The resolutions, disclosed in a statement signed by the Company Secretary, Frederick Ichekwai, and filed with the Nigerian Exchange (NGX), also covered board appointments, directors’ remuneration, and the constitution of a new statutory audit committee.
Shareholders approved a dividend of N14.66 per 50 kobo ordinary share, amounting to a total payout of N17.09 billion.
The dividend will be paid from the company’s profit for the year ended December 31, 2025, subject to applicable withholding tax deductions.
“That the dividend of N14.66 per 50 kobo share amounting to the sum of N17,098,845,500 payable from the profit of the year ended 31 December 2025, subject to the deduction of withholding tax at the appropriate rate, be and is hereby declared.”
Shareholders re-elected Olakanmi Rasheed Sarumi, Abdul Akhor Bello, and Osayi Alile as directors of the company.
The AGM also approved the appointment of Ademola Adebise, Adewale Arikawe, and Francois Van Hoydonck to the Board of Directors.
In addition, shareholders authorised the board to determine the remuneration of the company’s external auditors, KPMG, for the financial year ending December 31, 2026.
A total remuneration of N349 million was approved for Non-Executive Directors for the 2026 financial year, alongside a N56.38 million sitting allowance pool, which will be paid based on attendance at board and committee meetings.
The company also constituted a new Statutory Audit Committee to serve until the next AGM.
The shareholder representatives on the committee are Engr. M.O.T. Olayiwola Tobun, Job Ihejirika Onwughara and Adenrele Sulaimon Babatunde.
The board representatives on the committee are Abdul Akhor Bello and Ambassador Nonye Udo.
The dividend approval follows a strong financial performance by Presco in 2025, with the company reporting a 57.4 per cent increase in profit to N178 billion.
The growth was driven by higher revenues from its core palm oil business, supported by stronger product prices, increased production capacity, and strategic expansion initiatives.
Revenue from crude palm oil rose by 70.5 per cent to N243.27 billion, compared with N142.78 billion in 2024, while palm kernel oil revenue increased by 36.2 per cent to N47.12 billion.
Overall revenue climbed 59.3 per cent to N330.64 billion, reflecting higher global palm oil prices, expanded plantation capacity, new processing equipment, and acquisitions including an increased stake in the Ghana Oil Palm Development Company and the acquisition of Saro Oil Palm Limited.
Presco has continued its strong earnings momentum into 2026.
For the six months ended June 30, 2026, the company reported a profit before tax of N122.2 billion, representing a 9.3 per cent increase from N111.9 billion recorded in the corresponding period of 2025.
In the second quarter of 2026, profit before tax stood at N52.98 billion, broadly in line with the N53.25 billion recorded in the same period of the previous year.
