Afriland Properties Approves N329.7m Dividend Payout

Afriland Properties Plc held its 13th Annual General Meeting virtually in Lagos, where shareholders approved a total dividend payout of N329.74 million for the financial year ending December 31, 2025. This payout translates to 24 kobo per ordinary share, consisting of an interim dividend of 13 kobo already paid and a final dividend of 11 kobo per share.

Chairman Mr. Emmanuel Nnorom highlighted the company's 12% growth in gross profit, amounting to N3.51 billion compared to N3.13 billion in 2024, and an 8% revenue growth to N4.07 billion from N3.75 billion in the previous year. The company commenced nine new projects and completed 18 projects, demonstrating steady growth despite macroeconomic constraints.

Managing Director Mr. Azubik Emodi noted a 33% year-on-year increase in total assets to N65 billion, driven by sustained investments and fair value gains. However, profit before tax declined by 29% to N2.60 billion due to increased deferred tax liabilities.