FirstHoldCo Announces 60% Dividend Policy, H1 2026 Results
First HoldCo Plc filed a corporate action notice on July 30, 2026, disclosing that its Board approved a policy to distribute a minimum of 60% of annual Profit After Tax as dividends to shareholders. The filing also presents the Group's half-year financial results for the period ended June 30, 2026.
First HoldCo Plc announced on July 30, 2026, that its Board of Directors, at a meeting held on July 28, 2026, approved an enhanced dividend policy committing the Group to distribute a minimum of 60% of Profit After Tax annually to shareholders, subject to regulatory approvals.
The announcement accompanied the Group's H1 2026 financial results. For the half-year ended June 30, 2026, FirstHoldCo recorded Gross Earnings of ₦1.93 trillion, up 16.7% year-on-year, and Operating Income of ₦1.38 trillion, up 25.8%. Profit Before Tax rose 83.5% to ₦653.5 billion, while Profit After Tax grew 81.6% to ₦526.1 billion. Total Assets stood at ₦30.6 trillion and Customer Deposits at ₦21.9 trillion.
Non-interest income reached ₦497.1 billion during the period. The Group's Investment Banking and Asset Management subsidiaries generated approximately ₦46 billion in gross earnings and ₦27.4 billion in profit before tax. The filing also noted that FirstBank's Capital Adequacy Ratio has been restored above the regulatory minimum. The Group stated it is progressing toward a ₦1 trillion paid-in capital objective and recently completed capital-raising through Rights Issue and Private Placement transactions.
