Nigerian palm oil company Presco Plc has announced a final dividend of N42 for every 50 kobo ordinary share held, for the financial year ended December 31, 2024.
The announcement was made in a release filed with the Nigerian Exchange and signed by the Company Secretary, Frederick Ichekwai.
According to the filing, only shareholders whose names appear on the Register of Members by July 4, 2025, will be eligible to receive the dividend.
Presco further disclosed that the dividend payment will be made electronically on August 19, 2025, the same day as its Annual General Meeting (AGM).
The company also reminded shareholders that only those who have completed e-dividend registration will receive payment, and urged unregistered members to contact its registrar, First Registrars & Investor Services, to update their records.
What to know:
- Presco’s final dividend of N42 per share amounts to a total payout of N42 billion.
- At a share price of N1,233, this translates to a dividend yield of 3.40%.
- The payout also reflects a payout ratio of 53.99%.
Q1 2025 performance:
Presco Plc delivered a strong first-quarter performance, reporting a pre-tax profit of N58.6 billion, nearly doubling the N29.6 billion posted in the same period last year.
This sharp rise was driven by a significant jump in revenue, which climbed to N93.7 billion, more than twice the N42.5 billion recorded in Q1 2024.
- The company’s entire revenue came from the sale of crude and refined palm oil products, with 79.4% of sales generated in Nigeria, while Ghana accounted for the remaining share.
On the balance sheet, retained earnings rose to N174.3 billion, up from N126.7 billion a year earlier.
Total assets increased by 15.52%, reaching N548.8 billion, with property, plant, and equipment accounting for N271.2 billion of that figure.
