Access Holdings Plc shareholders have approved a total dividend payout of N125.29 billion for the 2024 financial year, a 67% increase from the N74.6 billion distributed in 2023.

The approval was formalised during the financial group’s 3rd Annual General Meeting (AGM), held in Lagos and detailed in a filing to the Nigerian Exchange Group.

The total payout translates to a final dividend of N2.05 per ordinary share of 50 kobo each, bringing the cumulative dividend for the year to N2.50 per share.

Speaking at the AGM, group chairman Aigboje Imoukhuede said the company’s 2024 performance reinforces its position for sustainable growth, adaptability to policy shifts and long-term value creation.

“Considering our strong earnings performance and continued growth, the Board of Directors has proposed a final dividend per share of N2.05 for the year 2024,” Imoukhuede said.

“This brings the total dividend for 2024 to N2.50 per share. With this, the dividend payout for the year amounts to N125.29 billion.”

He noted that the robust performance also reflects the strength of Access Holdings’ balance sheet and operational resilience.

Imoukhuede further highlighted the success of the company’s capital raising programme, which generated N351 billion through a rights issue, enabling Access Holdings to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement.

The rights issue, he said, increased shareholders’ funds to N4.76 trillion.

Acting group chief executive officer, Bolaji Agbede, expressed appreciation to shareholders who participated in the rights issue and reiterated the company’s commitment to delivering a proposed N1.00 interim dividend later in the year.

“We will look into delivering an N1 interim dividend in the course of the year, and we are counting on you to sell the Access brand to generate the revenue needed,” Agbede said.

“We will also continue to do a lot on sustainability. I also want to clarify that our contributions are not solely in the South-West; over 15,000 people have been impacted in the North.”

Managing director and CEO of Access Bank Plc, Roosevelt Ogbonna, described the 2024 performance as a reflection of the bank’s solid business model, resilient operations and unwavering focus on delivering long-term value to shareholders.

Access Holdings continues to position itself as a leading financial services group in Africa, with strategic investments in growth, capital resilience and sustainability.