NAHCO Approves ₦6.25 Dividend, Bonus Shares at 45th AGM

The aviation handling company announced that shareholders approved a final dividend of ₦6.25 per share for the financial year ended December 31, 2025. The total dividend payout amounts to ₦12.18 billion.

Shareholders also approved the re-election of Mr. Abdulhamid Aliyu, Rev. Victor Abimbola Olaiya and Mrs. Adebisi Oluwayemisi Bakare as directors of the company.

In another key resolution, shareholders approved the appointment of PricewaterhouseCoopers as the company’s external auditors effective from the 2026 financial year while authorizing the board to determine the auditors’ remuneration for the year ending December 31, 2026.

The meeting also ratified the election of members of the company’s audit committee. Those elected include Dr. Okpan Awa Erem, Alhaji Mohammed Gambo Fagge and Mr. Ridhwan Hamza representing shareholders, alongside Mr. Akinwumi Godson Fanimokun and Mr. Tajudeen Moyosola Shobayo representing the board.

Shareholders further approved ₦150 million as remuneration for non-executive directors for the 2026 financial year subject to applicable withholding tax deductions.

NAHCO also renewed its general mandate to enter into transactions with related parties and interested persons in line with Rule 20.8 of Nigerian Exchange Limited’s Issuers’ Rules.

In a major capital restructuring move, shareholders approved an increase in the company’s share capital from ₦974.53 million divided into 1.95 billion ordinary shares of 50 kobo each to ₦1.11 billion divided into 2.23 billion ordinary shares of 50 kobo each.

The increase will be achieved through the creation of an additional 278.44 million ordinary shares of 50 kobo each ranking pari-passu with the existing shares.

Following the approved capital increase, shareholders authorized the capitalization of ₦139.22 million from the company’s retained earnings or reserves for the issuance of bonus shares.

Under the arrangement, shareholders whose names appeared in the register of members as of May 1, 2026, will receive one new ordinary share for every seven existing shares held.

The company stated that fractional entitlements arising from the bonus issue may be rounded down to the nearest whole share at the discretion of the directors.

Shareholders also empowered the board to execute all agreements, regulatory filings and related actions necessary to implement the approved capital increase and bonus share issuance without seeking further approval from members.

The resolutions were signed by the Chairman, Seinde Oladapo Fadeni, and the Company Secretary, Bello A. Abdullahi of Dikko & Mahmoud Solicitors.