Legend Internet Plc has announced a final dividend of 6 kobo for every share of 50 kobo, payable to shareholders registered at the close of business on October 29, 2025.
The disclosure, filed with the Nigerian Exchange (NGX) and signed by Erinma Onuoma, the Company Secretary, noted that the dividend is subject to withholding tax and regulatory approval.
It further revealed that payment is scheduled for November 7, 2025, and will be credited electronically directly into the bank accounts of eligible shareholders.
Shareholders who have not completed their e-dividend registration were told to contact Datamax Registrars.
What to know:
- The final dividend amounts to a total payout of N120 million.
- At a market price of N5.80 per share, it represents a dividend yield of 1.03%.
- The payout reflects a dividend payout ratio of 84%.
- The dividend covers the financial year ended July 31, 2025.
This comes after the company reported a profit after tax of N172.6 million, a 44.53% increase from the N119.4 million recorded in 2024, driven by strong revenue growth.
Drivers
The company’s revenue held steady at N1.19 billion, up slightly from N1.13 billion in the previous year, with its fiber business doing most of the heavy lifting by contributing N1.12 billion.
- Wholesale bandwidth added N37.6 million; Legend Wi-Fi brought in N22.2 million, while other services accounted for the remainder.
Effective cost management helped boost top-line profits, as sales expenses fell 6.8% to N429.6 million from N461 million, allowing gross profit to rise to N761.4 million, up from N677.4 million in the prior year.
However, these gains were offset by rising administrative expenses, which surged 52.39% to N560.1 million from N367.6 million, driven by higher staff costs and depreciation.
- This pushed operating profit down to N201.2 million from N309.8 million a year earlier.
After finance costs of N28.5 million, profit before tax stood at N172.6 million, below the N285 million recorded in 2024.
With no tax charges for the year, net profit grew 44.53% to N172.6 million, compared to N119.4 million in the prior year.
On the balance sheet, total assets rose 10.33% to N3.3 billion, while retained earnings increased to N734.5 million from N561.9 million in 2024.
With stronger results and a dividend payment, the company’s stock sentiment is expected to improve, as its current price of N5.85 is still below the listing price of N6.20.
