Transcorp Power declares N3.50 dividend

Transcorp Power Plc has announced a final dividend of N3.50 per share for the financial year 2024, reflecting its strong performance within the period.

According to the corporate action calendar for upcoming dividend payments, the qualification date for shareholders entitled to the dividend is February 11, 2025, while the register will close between February 12 and February 19, 2025.

The power-generating firm, a subsidiary of Transcorp Plc, has scheduled its Annual General Meeting for February 25, 2025, where shareholders are expected to approve the dividend payout. The dividend will be paid on March 11, 2025, to shareholders who have completed their e-dividend registration.

In its latest audited results, Transcorp Power reported a 115 per cent increase in revenue and 165 per cent growth in profit after tax, demonstrating strong operational leadership and strategic execution.

Specifically, its revenue growth increased by 115 per cent, from N142.1bn recorded at the end of the 2023 financial year to N305.9bn in 2024.

The report showed that gross profit also rose by 89 per cent from N75.4bn in 2023 to N142.2bn.

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