Presco to pay N42 final dividend on August 19

Presco Plc has updated its corporate action announcement, proposing to pay a final dividend of N42 per share.

Presco’s share price has since surpassed the N1,000 mark. As of July 7, it stood at N1,233 after reaching a 52-week high of N1,275, from a corresponding week low of N369.

The dividend, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on July 4, 2025.

Presco said in a July 8 notice at the Nigerian Exchange Limited (NGX) that the register of shareholders will be closed from July 7, 2025, to July 11, 2025.

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Presco will, on August 19, 2025, pay dividends electronically to shareholders whose names appear on the Register of Members as at July 4, 2025 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The Company’s Annual General Meeting will hold on August 19, 2025. “The meeting venue and time will be advised in due course”, Presco said on Tuesday, July 8.

Its audited financial statements for the year months ended December 31, 2024 showed: 125.2 percent year-on-year (YoY) growth in EBITDA, increased from N52.9billion in 2023 to N119.1billiin in 2024; 128.7 percent growth in Profit Before Taxes (PBT), rising from N49.5billion in 2023 to N113.2billion in 2024; 102.6 percent revenue growth at N207.5billion; 146 percent increase in share price over the financial year; and market expansion through the acquisition of 52 percent equity stake in Ghana Oil Palm DevelopmentCompany Limited (GODPC).

Commenting on the results, Reji George, Managing Director and CEO of Presco Plc stated, “We are deeply grateful for the continued trust of our investors, business community and dedicated workforce, who have been instrumental in achieving these exceptional results. Against macroeconomic factors faced during the financial year under review, we remained undeterred in our strategic focus, resilience, and organisational efforts. This approach has led to remarkable growth across our operations.

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“We acquired 52 percent of Ghana Oil Palm Development Company Limited in August 2024 pursuant to our strategic growth objectives with further consolidation of our control of that entity in 2025’’

This sterling performance reflects Presco’s capacity to continually deliver exceptional returns to its shareholders through a combination of operational efficiency and agricultural excellence.

Presco’s revenue increased by 102.6 percent to N207.5 billion cements its position as the leading edible oil business in West Africa.