Transcorp Plc distributes over N55bn to shareholders — Dr Omogiafo
The President and Group Chief Executive Officer of Transnational Corporation Plc, Dr Owen Diana Omogiafo, has announced that Transcorp Plc has disbursed over ¦ 55 billion in dividends to its shareholders, reflecting the company’s consistent financial performance and long-term strategic vision.
Speaking on Arise TV, she highlighted that Transcorp Plc is listed on the Nigerian Stock Exchange and is owned by over 300,000 shareholders. She attributed the company’s resilience and strategic focus to its ability to create sustainable value while maintaining a strong commitment to serving stakeholders.
Dr Omogiafo stated: “As you can see from the results you shared, our power sector operations in Ughelli remain a key contributor. In addition, we have another Transcorp Power business in Rivers State, which includes two plants, though these were not mentioned in the data you previously referenced.”
She further noted that Transcorp Plc is dedicated to transforming lives in Africa by addressing critical infrastructural needs. She explained that sustainable development cannot be achieved without a reliable power supply, nor can Nigeria strengthen its global presence without world-class hospitality services.
“In 2024, we remained unwavering in our pursuit of operational efficiency, ensuring the effective management of our plants despite prevailing challenges, including issues related to gas supply and distribution. Nevertheless, we have sustained strong and consistent performance, and our hospitality business continues to thrive. Our commitment remains steadfast in delivering long-term value for all our stakeholders.”
Dr Omogiafo expressed the shareholders’ satisfaction with the company’s performance, stating that the ¦ 55 billion dividend payout is a milestone worth celebrating. She underscored Transcorp’s consistent dividend payments over the past decade, reflecting the company’s strong financial health and dedication to rewarding investors.
She also highlighted that Transcorp Plc’s dividend per share stands at ¦ 1, with Tony Elumelu’s leadership playing a pivotal role in strengthening the company’s operations and financial success.
Stressing the importance of investment in the power sector, Dr Omogiafo reiterated that discussions about economic growth are incomplete without addressing electricity generation. She emphasised that a stable and efficient power supply is fundamental to industrial growth, job creation, and an improved standard of living.
According to her, increased investment in the power sector would help tackle Nigeria’s energy deficit, stimulate economic development, and enhance overall quality of life.
It is worth noting that Transcorp Power Plc has seen a steady rise in its market valuation following its listing on the Nigerian Exchange. As of Friday, its market capitalisation had reached ¦ 2.97 trillion, demonstrating investor confidence in the company’s growth trajectory.
Transcorp Power Plc was initially listed at ¦ 240 per share, with a market valuation of ¦ 1.8 trillion. Within two weeks of trading, its market capitalisation surged by over 58%, further reinforcing its status as a leading player in Nigeria’s power sector.
The company is widely recognised for delivering record-breaking growth before its public listing. Following its debut on the domestic stock market, Transcorp Power Plc’s share price continued to rise, with major shareholders reducing their stakes to enhance liquidity and encourage broader investor participation.
