Okomu Oil shareholders approve N14.3 billion final dividend payout

The shareholders of Okomu Oil Palm Company Plc have endorsed the ₦14.3 billion proposed by the board of directors as the final dividend payout for the 2025 financial year, according to a recent regulatory filing.

The cash distribution, amounting to ₦15 per share, was approved by shareholders at the 46th annual general meeting held on 26 May in Abuja, subject to withholding tax at the applicable rate.

Okomu Oil’s primary activities include the development of oil palm plantations, palm oil milling, palm kernel processing, and rubber plantations.

Earlier in the year, the company announced an interim dividend of ₦30 per share, equivalent to a payout of ₦28.6 billion, following the release of its half-year results.

Like its biggest rival, Presco, the company last October declared a special dividend of ₦10 per share, translating into a payout of ₦9.5 billion after its net profit for the first nine months of 2025 more than doubled to ₦60.3 billion.

The three dividend announcements for the year under review put the combined cash rewards at ₦55 per share, totalling ₦52.5 billion.

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That implies a 52.8 per cent increase over the total dividend for 2024, when ₦34.3 billion was shared with shareholders, translating into N36 per share.

Okomu Oil, in which Luxembourg-based Socfin S.A holds a 62.9 per cent stake, reported a net profit of N58 billion for the financial year 2025, up from ₦40 billion a year earlier, on the back of increased income from palm oil production.

Revenue for the period rose to ₦198.1 billion from ₦130.2 billion, marking a 52.2 per cent rise. Assets at the end of the period totalled ₦138.9 billion, indicating an 18.6 per cent increase year on year. The Okomu Oil shares have gained 144 per cent in the last year.