Okomu Oil Palm Company Plc has declared an interim dividend of N30 per 50 kobo ordinary share for members whose names appear in the company’s register as of the close of business on August 8, 2025.
The announcement was made in a corporate disclosure released on July 24, 2025, indicating that the dividend is for the period ended June 30, 2025.
According to the disclosure, the interim dividend will be paid electronically on August 22, 2025, to qualified shareholders who have completed their e-dividend registration.
Okomu Oil urged shareholders who are yet to complete the e-dividend process to do so in order to receive their payment without delay.
The company noted that no bonus shares are proposed alongside the dividend, which remains subject to applicable withholding tax and regulatory approval.
Compared to the same period in 2024, when the company declared an interim dividend of N8 in June and an additional N2 per 50 kobo ordinary share for the period ended September 30, this reflects notable growth.
What to know:
- The N30 interim dividend amounts to a total payout of approximately N28.6 billion.
- At a share price of N950, this translates to a dividend yield of 3.2%.
- It also represents a payout ratio of 60.2%.
The announcement comes on the heels of a remarkable Q2 performance, where Okomu Oil posted a 459% year-on-year surge in pre-tax profit.
Performance snapshot:
Okomu Oil Plc reported a pre-tax profit of N34.8 billion for the quarter ended June 30, 2025, compared to N6.2 billion in the same period last year, a year-on-year increase of 459%, largely supported by higher revenue.
- For the first half of the year, pre-tax profit came in at N67.05 billion, reflecting continued growth across key income lines.
Revenue also saw significant improvement.
- In Q2 2025, turnover rose by 128% year-on-year to N71.7 billion, while year-to-date revenue reached N129.83 billion, up 73% from the same period in 2024.
As of June 2025, total assets stood at N159.91 billion, representing a 36.6% increase over the six-month period.
- Retained earnings also grew to N76.69 billion, up from N53.96 billion as of December 2024.
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