Connect with us

Dividends

Geregu Power Declares N8.50 Dividend as Profit Surges to N27.4 Billion in 2024

Published

on

Dividend - Investors King

Geregu Power Plc has announced a final dividend of N8.50 per ordinary share for the financial year ended December 31, 2024 following a record-breaking 71% surge in profit after tax to N27.4 billion.

The proposed dividend, subject to appropriate withholding tax and shareholder approval, will be paid to investors whose names appear in the Register of Members as of March 13, 2025.

The company’s 2024 Full Year audited results showed strong growth across key financial metrics and reinforced Geregu Power’s five consecutive years of profitability.

Total assets grew 33.7% year-on-year to N243.7 billion while revenue jumped 65.3% to N137.1 billion. Earnings per share also rose 70.8% to N10.97.

Dividend and Payment Schedule

  • Final Dividend: N8.50 per ordinary share
  • Register Closure Date: March 14, 2025
  • Qualification Date: March 13, 2025
  • Payment Date: March 28, 2025
  • Proposed Bonus: Nil

Shareholders who are yet to complete their e-dividend registration are encouraged to download and submit the E-Dividend Mandate Activation Form to the company’s registrar, Meristem Registrars and Probate Services Limited.

Also, investors with unclaimed dividend warrants and share certificates have been advised to validate their claims through the registrar.

Annual General Meeting (AGM)

Geregu Power has scheduled its Annual General Meeting (AGM) for March 28, 2025, where shareholders will discuss the company’s financial performance, dividend distribution and future growth plans.

Geregu Power’s strong financial position and consistent profitability continue to reinforce investor confidence, with the company maintaining its leadership as Nigeria’s first listed power-generating firm on the NGX.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement
Advertisement