Presco Plc 2025 AGM: ₦14.66 Dividend and New Directors

Presco Plc convened its 2025 Annual General Meeting virtually on Tuesday, 15 September 2026, where shareholders passed seven resolutions as disclosed in a filing to the Nigerian Exchange Limited.

Shareholders approved a dividend of ₦14.66 per 50 kobo share, amounting to a total payout of ₦17,098,845,500 from the company's profits for the financial year ended 31 December 2025. The dividend is subject to deduction of withholding tax at the applicable rate.

On board composition, three directors — Mr. Olakanmi Rasheed Sarumi, Mr. Abdul Akhor Bello, and Ms. Osayi Alile — were re-elected, while three new directors were elected: Mr. Ademola Adebise, Mr. Adewale Arikawe, and Mr. Francois Van Hoydonck (Belgian).

The board was authorised to fix the remuneration of independent auditors KPMG for the year ending 31 December 2026. Non-executive directors' remuneration was approved at ₦349,020,000, with an additional sitting allowance of ₦56,378,000 payable per meeting attendance.

A statutory audit committee was constituted with three shareholder representatives and two board representatives. Shareholders also granted the company a general mandate for recurrent related-party transactions conducted on normal commercial terms.