*Assures shareholders of N1 interim dividend this year
WorldStage Newsonline– Access Holdings has paid N125.29 billion as dividend to its shareholders in the 2024 financial year, representing a 67 per cent increase from the N74.6 billion that was paid in 2023.
This is coming as the Profit Before Tax (PBT) rose by 18.93% from N729 billion in 2023 to N867 billion in 2024.
Aigboje Aig-Imoukhuede, Group Chairman, Access Holdings Plc noted during the 3rd Annual General Meeting of the company in Lagos on Thursday that in 2024, the company’s gross earnings grew by 88 per cent year-on-year, rising from N2.594 trillion in 2023 to N4.878 trillion.
He explained that the 18.93% PBT growth represented a solid year-on-year increase in spite of external pressures from inflation and currency depreciation.
He said, “Considering our strong earnings performance and continued growth, the Board of Directors has proposed a final dividend per share of N2.05 for the year 2024.
“This brings the total dividend for 2024 to N2.50 per share. With this, the dividend payout for the year amounts to N125.29 billion.
“These results collectively reinforce that Access Holdings is not only a well-capitalised financial group but also one that is structurally positioned to scale sustainably, adapt to policy dynamics, and continue delivering long-term value to you, our shareholders.”
According to him, the financial performance of Access Holdings in 2024 underscores the underlying strength of our balance sheet and the resilience of our Group.
“Central to this success was our landmark capital raising programme, through which we raised N351 billion through a rights issue.
“This strategic initiative made Access Bank the first Nigerian bank to meet the new N500 billion minimum capital requirement set by the Central Bank of Nigeria well ahead of the 2026 deadline,” the Chairman added.
Aig-Imoukhuede said that the rights issue significantly strengthened the company’s capital base, increasing its shareholders’ funds to N4.76 trillion.
He explained that the 2024 financial year ended with total assets of N14.498 trillion, reflecting a remarkable year-on-year growth of 55.5 per cent.
He said this reaffirmed the company’s position as the largest financial company in Nigeria by asset size.
“This strength in our balance sheet serves as the foundation upon which we are executing our ambitious long-term growth strategy.”
The chairman noted that Access Holdings had designed business imperatives for the next three years to ensure that the company remains at the forefront of the financial services industry in Africa while delivering sustainable value to shareholders.
He said the business imperatives included: consolidation of geographical expansion, cost optimisation, innovation as a strategic enabler for new ventures, and investment management.
Also speaking, Mr Bolaji Agbede, Acting Group Chief Executive Officer, Access Holdings Plc, appreciated every shareholder who contributed significantly to the rights issue of N351 billion.
Agbede assured shareholders of plans to deliver the proposed N1.00 interim dividend in the course of the year.
She said, “We will look into delivering a N1 interim dividend in the course of the year, and we are counting on you to sell the Access brand to generate the revenue needed.
“We will also continue to do a lot on sustainability. I also want to clarify that our contributions are not solely in the South-West; over 15,000 people have been impacted in the North.
“Our sustainability project is not only in Nigeria but everywhere we have our presence.
“We will also continue to work on cybersecurity by investing in the right technology.”
Earlier, Mr Nona Awoh, a financial analyst, urged the board to uphold the legacies of the late Herbert Wigwe, former Chairman of the company, and ensure every shareholder is handled seriously.
Also, Mr Boniface Okezie, Chairman, Progressive Shareholders Association, commended the financial result of the company, describing it as an exceptional performance.
He, however, urged the company to look into reducing costs, with a specific focus on the money paid to the Asset Management Corporation of Nigeria (AMCON) and the Nigeria Deposit Insurance Corporation (NDIC).
The chairperson of the Highly Favoured Shareholders Association, Mrs Adetutu Shiyanbola, appreciated the Chairman and the entire board members of the company for presenting an outstanding financial report.
She also commended the company’s Corporate Social Responsibility (CSR) initiative, which focused on social welfare, community development, education, and health.
