Shareholders of Access Holdings Plc have approved a total dividend payment of N125.29 billion for the 2024 financial year, marking a 67% increase from the N74.6 billion paid in 2023.
The approval was granted during the company’s 3rd Annual General Meeting (AGM) held in Lagos, following a regulatory disclosure at the Nigerian Exchange Group.
This year’s dividend translates to N2.05 per ordinary share of 50 kobo each, with the company projecting a total dividend of N2.50 per share by year-end, inclusive of a planned interim dividend.
Resilient Performance and Strategic Growth
Speaking at the AGM, Group Chairman Aigboje Aig-Imoukhuede credited the company’s strong performance to sound strategy and operational resilience.
“Considering our strong earnings and sustained growth trajectory, the Board of Directors proposed a final dividend of N2.05 per share. This brings the total dividend for 2024 to N2.50 per share, amounting to a payout of N125.29 billion,” Aig-Imoukhuede stated.
He noted that the performance further underscores Access Holdings’ capacity to scale sustainably, adapt to evolving policy landscapes, and deliver consistent value to its shareholders.
Capital Raise and Strengthened Financial Position
Aig-Imoukhuede also highlighted the successful conclusion of the group’s N351 billion rights issue, a key part of Access Holdings’ capital-raising programme to meet the Central Bank of Nigeria’s new N500 billion minimum capital requirement.
The rights issue boosted shareholders’ funds to N4.76 trillion, reinforcing the group’s financial stability and growth potential.
Interim Dividend on the Horizon
Acting Group Chief Executive Officer, Bolaji Agbede, expressed gratitude to shareholders for their participation in the capital raise and reaffirmed the company’s commitment to further shareholder returns.
“We are targeting the payment of a N1.00 interim dividend during the year and urge shareholders to continue promoting the Access brand to drive growth,” Agbede said.
She also emphasized the group’s commitment to sustainability and inclusive impact, noting that over 15,000 beneficiaries in northern Nigeria have been positively affected by the group’s CSR initiatives countering any perceived regional concentration of efforts.
Focused on Long-Term Value Creation
Also addressing shareholders, Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, described the group’s 2024 performance as a testament to the resilience of its business model and unwavering focus on value creation.
“Our financial results reflect robust operational fundamentals and the strength of our diversified business strategy,” Ogbonna said.
Access Holdings’ solid dividend payout and strategic capital positioning come at a time of increased scrutiny of financial institutions’ resilience under evolving regulatory and market conditions.
