Shareholders of Access Holdings Plc have approved a substantial total dividend of N125.3 billion for the financial year ending December 31, 2024, following the company’s Annual General Meeting held on Thursday in Lagos. The approval marks another milestone for the company, which saw impressive growth despite prevailing macroeconomic challenges.
During the meeting, shareholders expressed their satisfaction with the board’s strategic decisions, particularly the performance and expansion initiatives undertaken during the year. The board proposed a final dividend of N2.05 per share, bringing the total dividend for 2024 to N2.50 per share.
Chairman of Access Holdings Aigboje Aig-Imoukhuede, highlighted that the company’s robust performance was due to the strength of its balance sheet and its ability to navigate challenging economic conditions. He attributed much of this success to the landmark capital raising programme, which saw the company raise N351 billion through a rights issue. This move positioned Access Bank as the first Nigerian bank to meet the Central Bank of Nigeria’s new N500 billion minimum capital requirement well ahead of the 2026 deadline. As a result, the bank’s capital base grew significantly, increasing shareholders’ funds to N3.76 trillion.
“Central to this success was our landmark capital raising programme, through which we raised N351 billion via a rights issue. This made Access Bank the first Nigerian bank to meet the new N500 billion minimum capital requirement set by the Central Bank of Nigeria, ahead of the 2026 deadline,” Aig-Imoukhuede said.
The company also reported impressive financial growth, with gross earnings rising by 88% year-on-year, from N2.59 trillion in 2023 to N4.88 trillion in 2024. Profit before tax grew from N729 billion to N867 billion, while profit after tax increased by 4%, from N619.3 billion in 2023 to N642.2 billion in 2024.
Bolaji Agbede, Acting Group Chief Executive Officer, affirmed that the company experienced growth across key financial indicators and maintained a diversified and healthy financial position. She emphasized Access Holdings’ strong market position, noting its banking operations span 22 markets across four continents, alongside a growing portfolio of non-banking subsidiaries in investment management and technology.
“We will continue to invest prudently, manage risks effectively, and build deeper relationships with all stakeholders to ensure consistent value delivery,” Agbede said.
As Access Holdings looks toward future growth, the company remains committed to maintaining strong financial performance, enhancing shareholder value, and expanding its influence in global markets.
