Geregu Power Plc has declared a final dividend of ₦8.50 per share for the financial year ending December 31, 2024. This marks an increase from the ₦8.00 per share paid to shareholders in the previous year.
According to the company’s official statement, shareholders listed in the company’s register as of March 13, 2025, will qualify for the dividend payment. The shareholder register will close on March 14, 2025, and payments will be processed electronically on March 28, 2025.
To receive their dividends promptly, shareholders were advised to complete their e-dividend registration, as all payments will be credited directly to their bank accounts.
As of March 12, 2025, Geregu Power’s stock was trading at ₦1,035 under the ticker symbol GERGU, reflecting strong investor confidence. The final dividend is subject to withholding tax, in line with regulatory requirements.
Key Dividend Details:
1. Qualification Date: March 13, 2025
2. Payment Date: March 28, 2025
3. Registrar: Meristem Registrars and Probate Services Limited
4. Unclaimed Dividends: Shareholders who have not mandated their accounts can claim their dividends through the registrar.
Geregu Power reported a pre-tax profit of ₦41.2 billion, reflecting a 69% increase from ₦23.4 billion recorded in 2023. The company’s revenue surged by 65.39% to reach ₦137.1 billion, up from ₦82.9 billion in the previous year.
Energy sales contributed ₦87.4 billion, accounting for 63.8% of total revenue.
Capacity charges added ₦49.6 billion, making up the remaining portion.
Despite a cost of sales increase of 84.85% to ₦74.3 billion, Geregu Power achieved a gross profit of ₦62.7 billion, marking a 47.04% rise from the previous year.
Operational and Financial Growth:
Operating profit reached ₦42.9 billion, up from ₦31.1 billion in 2023.
Finance income grew by 9.52% to ₦8.5 billion, primarily driven by interest on bank deposits.
Total assets increased by 33.74% to ₦234.4 billion, compared to ₦182 billion previously.
The company’s non-current assets climbed to ₦72.6 billion, while current assets surged to ₦170.8 billion, with trade receivables making up ₦122.8 billion.
Geregu Power’s solid financial performance underscores its strong position in Nigeria’s energy sector, reinforcing investor confidence as it continues to expand.
Business
- 08045674546
- info@mediaplusng.com
- Lagos, Nigeria