Geregu Power Plc has announced a proposed dividend of N9 per ordinary share, totalling N22.5 billion, for the 2025 financial year.
Okay News reports that the board approved the payout after reviewing the company’s audited financial statements for the year ended December 31, 2025.
The final dividend and financial statements will be presented for shareholder approval at the upcoming Annual General Meeting, the date of which is yet to be announced.
The N9 per share dividend marks a steady increase from N8.5 in 2024 and N8.0 the previous year, continuing a consistent upward trend in payouts.
With 2.5 billion outstanding shares, the total dividend amounts to N22.5 billion, up from N21.25 billion in 2024.
At the current market price of N1,141.5 per share, the proposed dividend yields 0.79%, slightly higher than the 0.75% recorded in 2024.
While fourth-quarter earnings are yet to be released, available data indicate robust performance in 2025.
For the nine months ended September 2025, retained earnings rose to N55.1 billion from N51.3 billion, representing nearly 98% of total equity.
Pre-tax profit grew 3.31% to N37.46 billion, while Q3 revenue surged 37.38% to N43.83 billion, bringing nine-month revenue to N131.47 billion—nearly matching the full-year 2024 total.
The growth was driven by energy sales of N85.5 billion and capacity charges of N45.9 billion from January to September, despite rising operating costs.
Operating profit increased to N42.2 billion from N37 billion in the same period last year.
On the balance sheet, total assets expanded to N273.1 billion, while total liabilities rose 13.53% to N216.7 billion, reflecting business growth and ongoing investment in operations.
Geregu Power is also expected to benefit from the Federal Government’s efforts to resolve outstanding debts in the power sector.
The company and its new majority owner, MA’AM Energy Ltd, are anticipated to receive a significant portion of a N500 billion payout to generation companies (Gencos) through bond issuances.
This forms part of a broader N4 trillion Genco debt resolution plan, which could improve sector liquidity and strengthen Geregu Power’s financial position.
The dividend announcement follows a major ownership change, with billionaire Femi Otedola completing a $750 million divestment of his 95% stake in Amperion Power Distribution Company Ltd (which controlled Geregu Power) to MA’AM Energy Ltd in 2025.
MA’AM Energy, now the majority shareholder, is an Abuja-based integrated energy company active in power generation and trading.
