Access Corporation posts 300% increase in 2023 profits, to pay N1.80 as final dividend

Access Corporation, a holding company has posted over 300 percent increase in its profit margin for 2023.

This was disclosed by the Bank via a corporate disclosure filed on the NGX website and seen by Nigerian NewsDirect.

Access Holdings reported a remarkable 306 percent growth in profit after tax to N619.32 billion, up from N152.20 billion in 2022.

This is the largest profit ever posted by the company and presided over by the late Herbet Wigwe.

To reward its investors, the holding company has revealed plans to pay a final dividend of N1.80 for every ordinary share of 50k to its shareholders for the 2023 financial year.

The payment, slated for April 19, will be made electronically and is subject to appropriate withholding tax.

The Company Secretary of Access Holdings, Mr Sunday Ekwochi, disclosed this in a notification to the Nigerian Exchange Ltd. (NGX) on Wednesday in Lagos.

Ekwochi clarified that only shareholders whose names appear on the Holdings Register of Members as of the close of business on April 10 would be eligible for the dividend.

Ekwochi said shareholders who had completed the e-dividend registration and mandated the Registrars to pay their dividends directly into their bank accounts would be paid.

This proposed final dividend brings the total dividend for the 2023 financial year to N2.10 per share.

The company also experienced an 87 percent surge in gross earnings to N2.59 trillion from N1.39 trillion in 2022.