WorldStage– Agro-industrial firm Presco Plc has officially approved a final dividend payout of N17.1 billion for the financial year ended December 31, 2025. The decision was formalized during the company’s 2025 Annual General Meeting (AGM) held virtually on Tuesday, September 15, 2026.
Under the approved resolution, shareholders will receive a dividend of N14.66 per 50 kobo share, subject to standard withholding tax deductions.
Board Re-Elections and New Appointments
During the meeting, shareholders voted to re-elect three existing board members: Mr. Olakanmi Rasheed Sarumi, Mr. Abdul Akhor Bello, and Ms. Osayi Alile.
In addition, three new members were formally elected to the Board of Directors: Mr. Ademola Adebise, Mr. Adewale Arikawe, and Mr. Francois Van Hoydonck.
Audit Committee & Auditor Remuneration
Shareholders approved the election of shareholder and board representatives to the Statutory Audit Committee to serve until the next AGM.
Shareholder Representatives: Engr. M.O.T Olayiwola Tobun, Mr. Job Ihejirika Onwughara, and Mr. Adenrele Sulaimon Babatunde.
Board Representatives: Mr. Abdul Akhor Bello and Ambassador Nonye Udo.
The Board was also authorized to fix the remuneration for KPMG, who will continue as the company’s independent auditors for the financial year ending December 31, 2026.
Director Remuneration and General Mandate
The AGM endorsed a total remuneration of N349.02 million for Non-Executive Directors for the 2026 financial year, alongside a sitting allowance of N56.38 million payable based on meeting attendance.Finally, in line with Nigerian Exchange Limited (NGX) regulations, shareholders granted the company a general mandate to engage in recurrent related-party transactions necessary for daily operations, provided they are conducted under normal commercial terms.
