Skyway Aviation Handling Company Plc (SAHCO) has approved a dividend payment of N1.624 billion to shareholders following resolutions passed at its 16th Annual General Meeting (AGM) held virtually on June 19, 2026.

The approval was disclosed in a statement dated June 23, 2026, and jointly signed by the company’s Chairman, Mr. Taiwo Afolabi, and Company Secretary, Ms. Jesuyemisi Odeyemi.

The dividend translates to N1.20 per ordinary share and will be paid to shareholders whose names appeared in the company’s register of members as of June 2, 2026.

What they are saying

According to the resolution adopted at the AGM, the dividend payment is subject to applicable withholding tax.

Other News

  • “That a dividend payment in the total sum of N1,624,296,000, which translates to N1.20 per ordinary share of the Company, subject to withholding tax, be and is hereby declared and approved for payment to shareholders whose names appeared in the Company’s Register of Members as at the close of business on June 2, 2026,” the statement read.

Shareholders also approved the re-election of Mr. Kayode Filani and Mrs. Laila St. Mathew-Daniel as directors after they retired by rotation and offered themselves for re-election.

The resolution stated that both directors were duly re-elected to continue serving on the board.

More insights

As part of the resolutions passed at the AGM, shareholders approved the appointment of Deloitte Nigeria as the company’s new external auditor, replacing Gbenga Badejo & Co.

The company also constituted a new statutory audit committee comprising board representatives Mr. Anyanwu Anogwi and Mrs. Laila St. Mathew-Daniel, alongside shareholder representatives Mrs. Samiat Odunuga, Mr. Ismail Adamu and Mr. Rotimi Aina.

Shareholders further approved annual remuneration of N6 million for the Chairman and N5 million for each non-executive director.

In addition, the AGM renewed SAHCO’s general mandate to enter into recurrent related-party transactions considered necessary for the company’s day-to-day operations and business activities.

What you should know

The dividend declaration follows an impressive financial performance by SAHCO in the 2025 financial year.

The aviation ground handling company reported a profit before tax of N14.28 billion, representing a 120.2% increase from N6.49 billion recorded in 2024.

Passenger handling services remained the company’s largest revenue contributor, generating N31.82 billion compared to N18.60 billion in the previous year.

Cargo handling operations also delivered strong results, contributing N12.64 billion in revenue during the period.

SAHCO’s gross profit rose by 55.6% to N25.48 billion, reflecting improved operational efficiency and stronger margins despite rising operating expenses.

The approved dividend payment highlights management’s confidence in the company’s financial position and its ability to continue creating value for shareholders while sustaining growth across its core business segments.