By Damilare Adeleye
Shareholders of Transcorp Power Plc have approved a final dividend of N4.00 per share for the 2025 financial year, bringing the total payout to N5.50 per share after adding the N1.50 interim dividend paid last August.
This was part of the resolutions that were passed at the company’s 13th Annual General Meeting held on Monday, April 27, 2026, in Abuja.
“A final dividend of N4.00k per ordinary share recommended by the Directors of the Company for the year ended 31 December 2025, was approved,” a statement released on Tuesday by the company secretary, Atinuke Kolade, partly read.
“This, when combined with the Interim Dividend of N1.50k per share paid on August 18, 2025, for the half-year ended June 30, 2025, will bring the Total Dividend for the 2025 financial year to N5.50k per ordinary share.”
Shareholders also re-elected Engr. Charles Odita and Ms. Faith Tuedor-Matthews, OFR, as Non-Executive Directors.
The Audited Financial Statements for the year ended December 31, 2025, together with the reports of the Directors, Auditors, and Statutory Audit Committee, were laid before shareholders.
The Board was authorized to fix the remuneration of auditors for the 2026 financial year, while the remuneration of company managers, “which was disclosed on page 108 of the Annual Report, was duly noted by the shareholders.”
A five-member Statutory Audit Committee was elected, comprising Engr. Charles Odita and Faith Tuedor-Matthews as Board Representatives, and Mr. Olatunji Hassan, Hajia Hauwa Sule Umar, and Mr. Olusegun Owoeye as Shareholder Representatives.
Similarly, shareholders approved the sum of N325 million as the cumulative remuneration payable to Non-Executive Directors for the year ending December 31, 2026, effective from January 1, 2026.”
The company also secured broad authority to reshape its portfolio.
“The Company was authorised to invest in, acquire, or divest from any business and/or carry out as the Directors may deem appropriate and in accordance with any relevant laws, any actions, including but not limited to restructuring, reorganization, reconstruction, and such other business arrangement, exercise or actions.”
Directors were further empowered, subject to regulatory approval, to “take all steps and do all acts that they deem necessary in furtherance of the authority conferred,” including appointing advisers and filing documents with authorities.
Shareholders granted a General Mandate authorising the company “to enter into all recurrent transactions with a related party or interested person for transactions which are of a revenue or trading nature or are necessary for the Company’s day-to-day operations.”
The mandate takes effect from the date of the resolution.
Transcorp Power is a subsidiary of Transnational Corporation Plc, and one of Nigeria’s largest power generation companies.