Presco Plc, West Africa’s leading edible oil producer, has announced a final dividend of N42 per share, underscoring its record-breaking financial performance in 2024. The dividend will be paid on August 19, 2025, to shareholders whose names appeared in the Register of Members as of July 4, 2025.
The payout is subject to shareholder approval and appropriate withholding tax, with the company confirming in a July 8 notice to the Nigerian Exchange Limited (NGX) that its register of shareholders will be closed from July 7 to July 11. Eligible shareholders who have completed their e-dividend registration will receive their payments electronically.
Presco’s audited financials for the year ended December 31, 2024, revealed a 102.6 percent year-on-year revenue increase, reaching N207.5 billion. The company’s Profit Before Tax (PBT) also surged by 128.7 percent from N49.5 billion in 2023 to N113.2 billion in 2024.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) more than doubled, climbing 125.2 percent to N119.1 billion, a clear indicator of heightened operational efficiency. Presco’s share price mirrored the strong financials, jumping 146 percent over the year and surpassing the N1,000 mark to close at N1,233 on July 7, 2025, after hitting a 52-week high of N1,275.
In a strategic move aligned with its regional growth ambitions, the company acquired a 52 percent equity stake in Ghana Oil Palm Development Company Limited (GODPC) in August 2024. CEO Reji George confirmed further consolidation of the Ghanaian subsidiary’s control in 2025, positioning Presco as a dominant player across West Africa’s palm oil value chain.
“We are deeply grateful for the continued trust of our investors, business community, and dedicated workforce, who have been instrumental in achieving these exceptional results,” said George. “Against macroeconomic factors faced during the financial year under review, we remained undeterred in our strategic focus, resilience, and organisational efforts,” he added.
The company’s Annual General Meeting (AGM) is scheduled for August 19, 2025, with venue and time to be communicated. The AGM is expected to ratify the dividend payout and affirm investor confidence in Presco’s long-term strategic direction.
Presco’s sustained growth reinforces its reputation for agricultural excellence and superior shareholder returns in Nigeria’s agribusiness and palm oil sector. With robust fundamentals, strategic acquisitions, and rising investor interest, Presco continues to cement its position as the region’s most valuable edible oil company.
