Geregu Energy Plc, one in every of Nigeria’s most respected listed energy turbines, is making ready to pay shareholders a dividend that places recent consideration on its new majority homeowners and the cash now using on the deal.
The corporate has proposed a money dividend of N9 per share ($0.00635) for the 2025 monetary 12 months, a payout that totals N22.5 billion ($15.87 million) and is topic to shareholder approval at its annual assembly, in line with a regulatory submitting.
Geregu’s possession has simply been reshaped by a takeover that shifted efficient management to Ma’am Power Ltd., the Abuja based mostly agency linked to businessman Abdulaziz Yari. The transaction resulted in a change in final helpful possession of 77% of Geregu’s issued share capital, following Ma’am Power’s acquisition of 95% of Amperion Energy Distribution Co., the holding automobile by means of which billionaire investor Femi Otedola held the controlling stake.
In December final 12 months, Femi Otedola, chairman of First HoldCo Plc, bought the bulk stake in Geregu to Ma’am Power in a deal valued at $750 million, with lenders led by Zenith Financial institution Plc facilitating the transaction and BlackBirch Capital serving as monetary adviser.
Ma’am Power now holds 1,925,000,000 shares. At N9 per share ($0.00635), that interprets to a dividend take of N17,325,000,000 ($12.22 million) at an alternate price of N1,418 to $1. Whereas on paper, MA’AM Power Restricted is collectively owned by 4 people, credible sources inform Billionaires.Africa that the helpful proprietor of the corporate is Abdulaziz Yari, who additionally serves as a Senator in Nigeria’s tenth Nationwide Meeting.
The proposed distribution can be greater than final 12 months’s. The corporate mentioned the dividend represents a 5.9% improve from the prior 12 months’s payout, an indication of confidence at a time when Nigerian corporates are nonetheless navigating excessive financing prices, forex volatility and uneven shopper demand.
Geregu’s submitting mentioned the dividend advice adopted a board assembly the place administrators permitted the audited monetary statements. The corporate additionally mentioned an earlier closed interval for insiders buying and selling within the inventory might be lifted 24 hours after the audited accounts are launched, a typical step on the street to ultimate shareholder log off.
Geregu’s monetary efficiency helps clarify why it might afford to jot down a bigger dividend verify. The corporate reported revenue after tax of N25.1 billion ($17.70 million) for the primary 9 months of 2025, up 3.8% from a 12 months earlier. Income climbed 16.8% to N131.5 billion ($92.74 million), whereas revenue earlier than tax rose to N37.5 billion ($26.45 million). The corporate additionally reported whole property of N273.2 billion ($192.67 million).
These figures come from a enterprise that sits on the sharp finish of Nigeria’s financial constraints. Geregu runs a gasoline fired plant in Kogi State and has earned a repute amongst buyers for comparatively regular output, although all turbines face the identical structural complications: gasoline provide interruptions, fee bottlenecks within the electrical energy worth chain and transmission limits that may cap how a lot energy finally reaches prospects.
If shareholders approve the payout, the close to time period winners are clear. Ma’am Power will take the biggest chunk, and the dividend will function an early scoreboard for some of the carefully watched energy sector possession adjustments in recent times.
