Shareholders of Transcorp Power Plc have approved a final dividend of N4 per ordinary share at the company’s 13th Annual General Meeting (AGM) held on April 27, 2026.
This was disclosed in a filing on the Nigerian Exchange, signed by the company secretary, Atinuke Kolade, confirming the outcome of the meeting.
At N4 per share, the final dividend for the year ended December 31, 2025, amounts to about N30 billion, based on 7,500,000,000 outstanding ordinary shares.
Combined with the N1.50 interim dividend paid in August 2025, the total dividend for the 2025 financial year stands at N5.50 per ordinary share, representing a 10% year-on-year increase.
What the data is saying
A closer look at the company’s payout trend shows a steady improvement, with the final dividend of N4 per share for 2025 coming in higher than the N3.50 declared for 2024.
- Building on this, the N4 final dividend, when combined with the N1.50 interim payment, brings the total payout to N5.50 per share, ahead of the N5.00 recorded previously.
- At the current share price of N272.70, this translates to a dividend yield of 2.02% and a payout ratio of 45.12%, based on net profit of N91.4 billion.
- This performance is encouraged by stronger profitability, as FY2025 pretax profit rose to N120 billion from N113.2 billion, supported by growth in the company’s top line.
- On the top line, revenue increased to N398.2 billion from N305.9 billion, while retained earnings on the balance sheet expanded by 68.7% to N132.4 billion from N78.4 billion.
Providing further context, Managing Director and CEO Peter Ikenga attributed the performance to improved plant efficiency and fuel optimization, noting that available capacity rose from 505MW to 625MW.
A deeper breakdown of FY2025 revenue shows energy sales accounted for 73.8% at N293.8 billion, while capacity charges contributed N104.3 billion or 26%, with ancillary services making up the balance.
More recently, Q1 2026 revenue came in at N94.5 billion, reflecting a moderation from N105.4 billion recorded in the corresponding period of the previous year.
Get up to speed:
Of the total Q1 2026 revenue of N94.5 billion, energy sales contributed N73.2 billion, followed by capacity charges at N21.3 billion, while ancillary services accounted for the balance.
However, reflecting the softer revenue base, pretax profit declined to N39.5 billion, compared with N43.2 billion recorded in the corresponding period of Q1 2025.
On the balance sheet, total assets rose to N613.4 billion from N563.4 billion in 2025, with trade and other receivables accounting for a dominant 82.9% of the total.
Retained earnings increased to N162.1 billion from N132.4 billion, representing 75.4% of total equity, which stood at N214.9 billion.
What you should know
Shares of the company are priced at N272.70 per unit, down 11.17% year-to-date, amid relatively soft trading volumes of about 29 million shares.
Trade and other payables of N266.04 billion remain the company’s largest obligation, accounting for the bulk of total liabilities of N398.4 billion, which rose 4.8% year-on-year.
At the 13th Annual General Meeting, shareholders approved a cumulative remuneration of N325 million for non-executive directors for the year ending December 31, 2026.
