Geregu Power Plc Declares ₦8.50 Dividend Ahead of March 26 AGM

Geregu Power Plc has announced plans to pay its shareholders a dividend of ₦8.50 per share for the financial year ended December 31, 2024. This is according to the Notice of Annual General Meeting (AGM) released by the company ahead of its scheduled shareholders’ meeting set to hold on March 26, 2025, at the Transcorp Hilton, Abuja.

Significant Payout for Shareholders

The proposed dividend of ₦8.50 per share amounts to a total payout of ₦21.25 billion, reflecting Geregu Power’s steady commitment to rewarding shareholders. In Nigeria’s power sector — where profitability is often volatile due to regulatory challenges, gas supply constraints, and rising operating costs — this positions Geregu as one of the most consistent dividend payers among listed electricity companies.
This generous dividend proposal comes despite Nigeria’s challenging economic environment, where foreign exchange volatility, rising operational costs, and gas supply constraints continue to weigh on the performance of power generation companies. Geregu Power’s resilient earnings and cash flow strength have allowed the board to maintain its commitment to shareholders.

A Pattern of Strong Dividends

Geregu Power, which became the first power generation company to list on the Nigerian Exchange (NGX) in 2022, has consistently paid competitive dividends since going public. In 2023, the company declared a dividend of ₦8.00 per share, meaning the 2024 payout marks a slight increase, further signaling management’s confidence in its future earnings capacity.

Why This Dividend Matters

• Attractive Yield in Context: With Geregu’s share price hovering around ₦418, the proposed dividend offers a dividend yield of approximately 2.03% — a relatively strong payout in Nigeria’s power sector, where companies often struggle to return cash to shareholders.
• Otedola’s Commitment: As Geregu’s majority shareholder, billionaire investor Femi Otedola stands to receive over ₦15 billion from the payout, reinforcing his long-term confidence in the business.
• Positive Signal: The payout is seen as a positive signal to both local and foreign investors, demonstrating that despite sector headwinds, Geregu Power is able to generate strong cash flows and reward shareholders consistently.

Beyond Dividends — What to Expect at the AGM

In addition to approving the dividend, shareholders will vote on the re-appointment of directors, including Paul Gbededo and Olawunmi Otedola, and receive updates on Geregu’s future growth plans, especially as privately-owned power companies push for more policy reforms to unlock better tariffs and ease infrastructure financing.

Geregu Power’s Dividend History

Year	Dividend Per Share
2023	₦8.00
2024	₦8.50 (Proposed)

As Geregu Power deepens its footprint in Nigeria’s power generation space, its ability to deliver both growth and income makes it one of the most closely watched stocks on the NGX.

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