Geregu Power To Pay ₦9 Dividend Worth ₦22.5bn

Geregu Power’s board has approved a dividend of ₦9 per ordinary share, totaling ₦22.5 billion, for the 2025 financial year.

The board also reviewed Geregu Power’s audited financial statements for the year ended 31 December 2025.

The final dividend, together with the financial statements, will be subject to shareholder approval at the upcoming Annual General Meeting, the date of which is yet to be announced.

This was revealed in a filing on NGX and signed by the company secretary, The Structure HQ Limited.

The proposed ₦9 dividend per share represents a steady increase from ₦ 8.5 in FY 2024 and ₦ 8.0 the previous year, continuing a trend of rising payouts.

With 2.5 billion outstanding shares, the total dividend amounts to ₦22.5 billion, up from ₦ 21.25 billion the previous year.

At Geregu’s current market price of ₦1,141.5 per share, the dividend yield stands at 0.79%, slightly higher than the 0.75% recorded in 2024.

Although fourth-quarter earnings are yet to be released, the available data points to a strong performance in 2025.

For the nine months ended September 2025, retained earnings rose to ₦55.1 billion from ₦ 51.3 billion, accounting for nearly 98% of total equity.

Pre-tax profit rose 3.31% to ₦37.46 billion for nine months, while Q3 revenue jumped 37.38% to ₦ 43.83 billion, bringing nine-month revenue to ₦ 131.47 billion, nearly matching 2024’s full-year total.

The growth was largely driven by energy sales of ₦85.5 billion and capacity charges of ₦ 45.9 billion from January to September, despite rising operating costs.

Operating profit rose to ₦42.2 billion, up from ₦ 37 billion in the same period last year.

On the balance sheet, total assets expanded to ₦273.1 billion, while total liabilities increased 13.53% to ₦ 216.7 billion, reflecting both business growth and continued investment in operations.

In addition to its financial performance, Geregu Power is poised to benefit from ongoing government efforts to resolve outstanding debts in the power sector.

The company and its new majority owner, MA’AM Energy Ltd, are expected to receive a significant portion of a ₦500 billion payout by the Federal Government.

This is part of a broader ₦4 trillion Genco debt, which the government is addressing through bond issuances, potentially boosting sector liquidity and strengthening Geregu Power’s financial position.

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The development followed a completed landmark $750 million divestment by Femi Otedola, who previously held a 77% controlling stake in the business.

He sold his 95% stake in Amperion Power Distribution Company Ltd (which controlled Geregu Power) to MA’AM Energy Ltd, marking one of Nigeria’s largest private power sector deals.

MA’AM Energy, now the majority shareholder, is an Abuja-based integrated energy company active in power generation and trading.