Geregu Power Plc has declared a final dividend of ₦9.00 per ordinary share for the financial year ended 31 December 2025, reinforcing its position as one of Nigeria’s most consistent dividend-paying power generation companies.
In a Corporate Actions Announcement dated 19 January 2026, the company said the dividend is subject to withholding tax and shareholder approval and will be paid to investors whose names appear on the Register of Members at the close of business on 14 April 2026.
The qualification date has been set for 13 April 2026, while payment is scheduled for 30 April 2026, the same day as the company’s Annual General Meeting.
Strong Signal to Income-Focused Investors
Geregu’s ₦9 final dividend comes at a time when many Nigerian listed companies—particularly in capital-intensive sectors—are under pressure from rising financing costs, foreign exchange volatility, and operational constraints. The payout underlines Geregu Power’s ability to translate contracted capacity payments and operational efficiency into distributable cash, despite persistent structural challenges in Nigeria’s electricity market.
For investors, the announcement reinforces Geregu Power’s profile as a yield-driven utility stock, appealing to pension funds, institutional investors, and long-term retail shareholders seeking predictable income in an inflationary environment.
Why Geregu Is Able to Pay Dividends When Many GenCos Cannot
Geregu’s ability to sustain dividends reflects a combination of structural and operational factors that differentiate it from much of Nigeria’s generation fleet. As a large, gas-fired thermal plant with relatively stable dispatch, Geregu is better positioned to absorb the sector’s core constraints—partial settlement by the bulk trader, grid bottlenecks, and non-cost-reflective tariffs. Its scale allows fixed costs to be spread over consistent output, while comparatively reliable gas availability reduces fuel disruption risk. In a power market where stranded capacity and delayed payments often turn higher generation into higher losses, Geregu’s operating profile has enabled it to convert participation in the market into recurring cash flow rather than balance-sheet stress.
Register Closure and E-Dividend Advisory
The company disclosed that its Register of Shareholders will be closed from 14 April 2026, meaning investors must ensure their holdings are properly recorded before that date to qualify for the dividend.
Geregu Power also advised shareholders who have not completed e-dividend registration to download and submit the E-Dividend Mandate Activation Form through the company’s registrar or their respective banks. Shareholders with unclaimed dividend warrants or outstanding share certificates were similarly urged to regularise their records to avoid further delays in payment.
Registrar and Investor Relations
The company’s registrar is Meristem Registrars and Probate Services Limited, based in Yaba, Lagos. Geregu Power’s Investor Relations function is led by Oluranti Oke, according to the filing.
Why This Matters
Beyond the headline yield, Geregu Power’s dividend declaration underscores a broader point about Nigeria’s power sector: only a small number of generation companies consistently convert market participation into shareholder returns. In an industry characterised by payment delays, transmission bottlenecks, and stranded capacity, Geregu’s payout highlights the value investors continue to place on scale, gas availability, and disciplined financial management.
As the Nigerian equity market increasingly differentiates between companies that merely survive and those that generate free cash flow, Geregu Power’s FY 2025 dividend strengthens its standing among the NGX’s most investible infrastructure plays.
