Presco Plc has declared a N17.1 billion dividend to shareholders for the 2025 financial year after its profit rose by 57.4 per cent to N178 billion.
The agro-industrial company approved the dividend at its Annual General Meeting held virtually on Tuesday, September 15, 2026.
Shareholders approved a dividend of N14.66 per 50 kobo ordinary share, translating to a total payout of N17.098 billion.
The dividend will be paid from the company’s profit for the year ended December 31, 2025, after the deduction of withholding tax at the applicable rate.
The resolutions were disclosed in a statement signed by the Company Secretary, Frederick Ichekwai, and filed with the Nigerian Exchange Limited.
Presco’s Revenue Rises 59.3 Per Cent
The dividend follows a strong financial performance by Presco in 2025.
The company’s revenue increased by 59.3 per cent to N330.64 billion, compared with the previous year.
Its profit rose 57.4 per cent to N178 billion, driven largely by stronger earnings from its palm oil operations.
Revenue from crude palm oil increased by 70.5 per cent to N243.27 billion, from N142.78 billion in 2024.
Palm kernel oil revenue also rose by 36.2 per cent to N47.12 billion.
Presco’s performance was supported by higher global palm oil prices, increased plantation capacity, new processing equipment and expansion through acquisitions.
The company increased its stake in the Ghana Oil Palm Development Company and also acquired Saro Oil Palm Limited.
Presco has continued to record strong earnings in the current financial year.
For the six months ended June 30, 2026, the company reported N122.2 billion profit before tax, representing a 9.3 per cent increase from N111.9 billion recorded in the corresponding period of 2025.
However, profit before tax for the second quarter stood at N52.98 billion, slightly below the N53.25 billion recorded in the same period of 2025.
The performance comes as palm oil prices, production levels, and investments in processing capacity continue to influence the earnings of major players in Nigeria’s agricultural sector.
Shareholders Approve New Directors
At the AGM, shareholders also re-elected Olakanmi Rasheed Sarumi, Abdul Akhor Bello and Osayi Alile as directors.
They also approved the appointment of Ademola Adebise, Adewale Arikawe and Francois Van Hoydonck to the company’s board.
Shareholders authorised the board to determine the remuneration of the company’s external auditors, KPMG, for the financial year ending December 31, 2026.
They also approved N349 million in remuneration for Non-Executive Directors for 2026 and a N56.38 million sitting allowance pool, payable based on attendance at board and committee meetings.
The company also constituted a new Statutory Audit Committee to serve until the next Annual General Meeting.
The shareholder representatives are Engr. M.O.T. Olayiwola Tobun, Job Ihejirika Onwughara and Adenrele Sulaimon Babatunde.
