Okomu Oil shareholders approve N14.3 billion final dividend payout

The shareholders of Okomu Oil Palm Company Plc have approved the ₦14.3 billion proposed by the board as the final dividend for the 2025 financial year. This information comes from a recent regulatory filing.

The cash payment amounts to ₦15 per share. Shareholders agreed to this at the 46th annual general meeting on 26 May in Abuja. The payout will be subject to withholding tax at the applicable rate.

Okomu Oil mainly focuses on developing oil palm plantations, milling palm oil, processing palm kernels, and managing rubber plantations.

Earlier this year, the company declared an interim dividend of ₦30 per share. This was a total payout of ₦28.6 billion after releasing its half-year results.

Last October, Okomu Oil announced a special dividend of ₦10 per share. This meant a payout of ₦9.5 billion after its net profit for the first nine months of 2025 more than doubled to ₦60.3 billion.

With these three dividend announcements for the year, the total cash rewards amount to ₦55 per share, adding up to ₦52.5 billion. This shows a 52.8 per cent increase compared to the total for 2024. That year, ₦34.3 billion was shared among shareholders, which amounted to ₦36 per share.

Okomu Oil, where Luxembourg-based Socfin S.A holds a 62.9 per cent stake, reported a net profit of ₦58 billion for the 2025 financial year. This is up from ₦40 billion the previous year, thanks to increased income from palm oil production.

Revenue for the period rose to ₦198.1 billion from ₦130.2 billion, marking a 52.2 per cent increase. The company's assets at the end of the period totalled ₦138.9 billion, which is an 18.6 per cent rise year on year. Okomu Oil shares have seen a gain of 144 per cent in the last year.