Okomu Oil declares Final Dividend of N26 for registered members 

This announcement was made in a disclosure published on the Nigerian Exchange on April 3, 2025, and signed by the company secretary, Chukwuebuka Omerole.

The final dividend, for the period ended December 31, 2024, is subject to withholding tax and regulatory approval, with payments expected to be made to qualified shareholders on May 22, 2025.

Additionally, the company emphasized that completing the e-dividend registration is essential for qualification and noted that payments would be made via electronic transfer to shareholders’ bank accounts.

Okomu Oil reported a pre-tax profit of N53.5 billion for the year ended December 31, 2024, marking an impressive 58.27% increase from the N33.8 billion reported the previous year.

Revenue soared by 73.36% year-over-year, totaling N130.2 billion.  

Chairman, Mr. Gbenga Oyebode commented on the results, stating, “This exceptional performance was driven mainly by the sustained rise in the prices of our key products, with crude palm oil prices increasing approximately 35% year-on-year, alongside a remarkable 194% rise in rubber prices.” 

He further acknowledged the support of shareholders, saying, “In recognition of our company’s strong performance, the Board of Directors declared an interim dividend of N10.00 for the fiscal year 2024 to reward our loyal shareholders for their continued trust. Additionally, the Board has recommended a final dividend payment of N26 per share, bringing the total dividend payout for 2024 to N36 per share.”