Access Holdings Plc has bowed to shareholder pressure, pledging to pay an interim dividend of N1 per share in 2025, more than double the 45 kobo interim payout recorded last year.
The commitment was made during the company’s 3rd Annual General Meeting (AGM), held on May 15, 2025, where shareholders had pushed for higher dividends following the bank’s robust 2024 performance.
The Acting Group CEO, Bolaji Agbede, made the promise after several shareholders demanded better returns in the current financial year, citing improved fundamentals and the group’s growing international earnings.
What the shareholders are saying
At the meeting, several shareholders had called for an increase in dividend payout for the 2025 financial year, citing the bank’s strong 2024 performance and expectations of continued momentum in 2025.
Addressing the calls, Agbede stated, “We will be able to do N1 interim dividend, and we will go the extra mile in delivering,” while stressing the sustainability of the bank’s income base across its subsidiaries in Africa and beyond.
If implemented, the N1 interim dividend would represent a 122% increase from the prior year and mark a record interim payout for the bank.
Access Holdings’ interim dividend of 45 kobo paid in 2024 was the highest on record for the Group, according to Naijaonpoint research.
By comparison, Zenith Bank and GTCO each paid N1 per share in interim dividends—also a record for both institutions—while UBA led the pack with an interim dividend of N1, the highest among the tier-one banks that year.
In terms of earnings performance, Zenith Bank, GTCO, and UBA reported earnings per share of N32.87, N35.44, and N21.73, respectively. Access Holdings, by contrast, posted an EPS of N16.71.
The sharp rise in interim payouts by Nigerian banks in 2024 was largely driven by windfall profits from exchange rate gains following the naira devaluation.
However, it’s important to note that dividend decisions are not solely based on earnings, but also on the composition of profits, particularly the share of cash versus non-cash earnings.
For detailed dividend history by company, visit the Naijaonpoint Dividend Tracker: https://dividends.Naijaonpoint.com/
Meanwhile, shareholders at the AGM formally approved a final dividend of N2.05 per ordinary share for the 2024 financial year.
A notable moment during the AGM was the failed attempt to pass a composite resolution on the election and re-election of directors.
The resolution was eventually broken into separate motions, allowing the directors to be voted on individually.
The resolution was eventually broken into separate motions, allowing the directors to be voted on individually.
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