Presco Plc, an agro-industrial company, has approved a total dividend payout of N17.1 billion to shareholders for the 2025 financial year. The decision was taken at the company's Annual General Meeting, held virtually on September 15, 2026.
According to a statement signed by the Company Secretary, Frederick Ichekwai, and filed with the Nigerian Exchange (NGX), shareholders approved a dividend of N14.66 per 50 kobo ordinary share. This translates to a final payout of N17,098,845,500.
The dividend will be paid from the profit for the year ended December 31, 2025, subject to the deduction of withholding tax at the appropriate rate. The resolutions passed at the meeting also covered board appointments, directors' remuneration, and the constitution of a new statutory audit committee.
On governance matters, shareholders re-elected Olakanmi Rasheed Sarumi, Abdul Akhor Bello, and Osayi Alile as directors of the company. The AGM also approved the appointment of Ademola Adebise, Adewale Arikawe, and Francois Van Hoydonck to the Board of Directors. Shareholders further authorised the board to determine the remuneration of the company's external auditors, KPMG, for the financial year ending December 31, 2026.
A total remuneration of N349 million was approved for Non-Executive Directors for the 2026 financial year, alongside a N56.38 million sitting allowance pool, which will be paid based on attendance at board and committee meetings.
The company also constituted a new Statutory Audit Committee to serve until the next AGM. The shareholder representatives are Engr. M.O.T. Olayiwola Tobun, Job Ihejirika Onwughara, and Adenrele Sulaimon Babatunde, while the board representatives are Abdul Akhor Bello and Ambassador Nonye Udo.
The dividend approval follows a strong financial performance in 2025, with the company reporting a 57.4% increase in profit to N178 billion. Revenue from crude palm oil rose by 70.5% to N243.27 billion, compared with N142.78 billion in 2024, while palm kernel oil revenue increased by 36.2% to N47.12 billion. Overall revenue climbed 59.3% to N330.64 billion, reflecting higher global palm oil prices, expanded plantation capacity, new processing equipment, and acquisitions including an increased stake in the Ghana Oil Palm Development Company and the acquisition of Saro Oil Palm Limited.
