May & Baker Shareholders Endorse N862.62m Dividend For 2025

By Lilian U. Okoro

The shareholders of May & Baker Nigeria Plc have approved a total dividend of N862.617 million for the financial year ended Dec. 31, 2025.

The News Agency of Nigeria (NAN) reports that the dividend translates to 50k per ordinary share of 50k each, subject to applicable withholding tax, compared with 40k paid for the 2024 financial year.

The approval was given at the company’s Annual General Meeting (AGM) held on Thursday in Lagos.

The Chairman of the Board, Sen. Daisy Danjuma, said the dividend would be paid to shareholders whose names appeared in the register of members at the close of business on May 19, 2026.

Danjuma said the group recorded a profit before tax of N6.5 billion in 2025, representing a 154 per cent increase from N2.6 billion posted in 2024.

According to her, tax expenses rose by 119 per cent from N952 million in 2024 to N2.1 billion in 2025 due to increased profitability and deferred tax impact.

She said the group’s profit after tax stood at N4.4 billion, representing a 173 per cent increase from N1.6 billion recorded in 2024.

“Earnings per share also grew by 173 per cent from 94k in 2024 to 257k in 2025.

“Our operating subsidiary, Osworth Nigeria Ltd., recorded revenue of N4.1 billion, a 46 per cent increase over the N2.8 billion achieved in 2024.

“The subsidiary also posted a profit after tax of N468 million compared with N289 million in the previous year, representing a 62 per cent growth in net earnings,” she said.

Danjuma said the company remained focused on identifying opportunities despite prevailing economic challenges and called on shareholders to continue supporting management’s growth initiatives.

She added that the company would continue to invest strategically to strengthen its position as a leading healthcare company in sub-Saharan Africa.

Advertisement

Speaking on the operating environment, the Managing Director, Mr Patrick Ajah, said the company had continued to engage government on policies affecting local manufacturers.

Ajah said one outcome of such engagements was the Executive Order signed by President Bola Tinubu, which waived import duties on selected raw materials.

According to him, the policy has provided some relief, although its impact remains limited as the savings amount to about 7.5 per cent.

Responding to questions from shareholders, Ajah said the company’s receivables were being monitored monthly and remained under control.

On strategic planning and board diversity, he said management was currently implementing a strategic plan due to expire this year.

He said the company would hold an off-site session before the end of the year to develop a new three-to-five-year strategic plan.

NAN reports that shareholders also approved the remuneration of directors and other resolutions presented at the meeting. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma