Banking & Finance

Access Holdings PLC Announces N2.05 Final Dividend for 2024

Published by
Jeremiah Ayegbusi

Access Holdings Plc, Nigeria’s largest financial holding company by assets, has announced a final dividend of N2.05 kobo per ordinary share on its 53,317,838,433 issued ordinary shares of 50 kobo each, for the 2024 financial year. Shareholders’ fund increased 72.04% Year-on-year to N3.760 trillion

The holding company’s primary subsidiary, Access Bank PLC, reported a surge in gross earnings, rising to N4.878 trillion from N2.594 trillion reported a year earlier. Profit after tax stood at N642.22 billion, representing a 3.7% increase from the N619.32 billion posted a year earlier.

The final dividend, subject to appropriate withholding tax, brings the total dividend for 2024 to N2.50 kobo per share, as disclosed in a regulatory filing on the Nigerian Exchange (NGX).

Each ordinary share, valued at N0.50 kobo, qualifies for this payout, reinforcing Access Holdings’ commitment to shareholder value. Shareholders listed on the Register of Members by the close of business on April 29, 2025, will be eligible for the dividend.

To strengthen its financial position and meet the Central Bank’s new capital requirement, as stated in the notes to the financial statements, it had issued N351 billion in July 2024 via a rights issue.

Shareholders were also given the opportunity to purchase 1 additional share for every 2 held at N19.75 per share. The bank had consequently expanded its equity base by N343 billion after transaction expenses were deducted.

Thus, its share capital and share premium increased to N594.903 billion, an increase of 136.25%. This massive increase indicates that Access Holdings has now fulfilled the CBN’s new capital requirement. Share price performance: Access share price was N21.40 as of April 15, 2025, lower by 10.3% year-to-date. It has also shed 9% since mid-March. and was presently placed 114th on the NGX year-to-date performance table.

Access Holdings has scheduled its Annual General Meeting for May 15, 2025

Jeremiah Ayegbusi

Jeremiah Ayegbusi is an economist and former Academic Officer of the Nigerian Economic Students Association, Redeemer's University Chapter (NESARUN). He analyzes economic news and conducts research for long-form analysis, leveraging his strong academic foundation and passion for insights.

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