NAHCO Plc declares N12.18bn dividend for shareholders

By Damilare Adeleye

Nigerian Aviation Handling Company Plc (NAHCO) has declared a dividend of N12.18 billion for the financial year ended December 31, 2025, alongside a one-for-seven bonus share issue.

This was part of the resolutions passed at the company’s 45th Annual General Meeting held on May 15, 2026.

According to a statement signed by the Chairman, Seinde Oladapo Fadeni, and the Company Secretary, Bello Abdullahi, the aviation services company approved a payout of N6.25 kobo per share, totaling N12,181,640,625.

The resolution stated that the dividend is payable in respect of the year ended December 31, 2025, signaling the company’s continued financial resilience.

In a move set to reward long-standing shareholders, the company’s authorized capital will increase from N974,531,250 representing 1,949,062,500 ordinary shares to N1,113,750,000, representing 2,227,500,000 ordinary shares, all at N0.50 kobo each.

The increase will be achieved through the creation of 278,437,500 additional ordinary shares, to be issued as a bonus to qualifying shareholders.

Similarly, three directors were returned to the Board, including Mr. Abdulhamid Aliyu, Rev. Victor Abimbola Olaiya, and Mrs. Adebisi Oluwayemisi Bakare.

Meanwhile, PricewaterhouseCoopers (PwC) was appointed as the company’s external auditors with effect from the 2026 financial year.

The meeting also saw the election of five members to the company’s Audit Committee to serve until the next AGM.

Those elected are Dr. Okpan Awa Erem, Alh. Mohammed Gambo Fagge, and Mr. Ridhwan Hamza representing the shareholders, alongside Mr. Akinwumi Godson Fanimokun and Mr. Tajudeen Moyosola Shobayo representing the Directors.

The Board was granted broad authority to execute all agreements, deeds, and documents necessary to give effect to the capital restructuring resolutions, including engaging professional advisers and complying with regulatory directives, without requiring further shareholder approval.