Shareholders of May & Baker Nigeria Plc have approved a total dividend of N862.617 million for the financial year ending December 31, 2025.
The dividend amounts to 50k per ordinary share of 50k each, subject to applicable withholding tax, compared to 40k paid for 2024.
The approval was given at the company’s Annual General Meeting (AGM) held on Thursday in Lagos.
Chairman of the Board, Sen. Daisy Danjuma, stated that dividends would be paid to shareholders listed in the register as of close of business on May 19, 2026.
Danjuma reported that the group recorded a profit before tax of N6.5 billion in 2025, representing a 154 percent increase from N2.6 billion in 2024.
She noted that tax expenses rose by 119 percent from N952 million in 2024 to N2.1 billion in 2025, due to increased profitability and deferred tax impact.
The group’s profit after tax stood at N4.4 billion, a 173 percent increase from N1.6 billion in 2024.
Earnings per share grew by 173 percent from 94k in 2024 to 257k in 2025.
Danjuma added that the company’s operating subsidiary, Osworth Nigeria Ltd., recorded revenue of N4.1 billion—up 46 percent from N2.8 billion in 2024.
The subsidiary also posted a profit after tax of N468 million, compared to N289 million in the previous year, a 62 percent growth in net earnings.
She emphasized that the company remains focused on identifying opportunities despite economic challenges and called on shareholders to support management’s growth initiatives.
Danjuma also stated that the company intends to continue strategic investments to strengthen its position as a leading healthcare provider in sub-Saharan Africa.
Regarding the operating environment, Managing Director Mr. Patrick Ajah said the company has engaged with the government on policies affecting local manufacturers.
He highlighted that the recent Executive Order signed by President Bola Tinubu waived import duties on certain raw materials, providing some relief, though its impact is limited to savings of about 7.5 percent.
In response to shareholder questions, Ajah said receivables are monitored monthly and remain under control.
On strategic planning and board diversity, he noted management is implementing a strategic plan set to expire this year.
The company plans to hold an off-site session before year-end to develop a new three- to five-year strategic plan.
Shareholders also approved the remuneration of directors and other resolutions presented at the meeting.
