Access Holdings commits to N1 interim dividend for 2025 after shareholder pressure

Access Holdings Plc has announced plans to pay an interim dividend of N1 per share in 2025, responding to pressure from shareholders who demanded higher returns following the group’s robust performance in 2024.

The announcement was made at the company’s 3rd Annual General Meeting (AGM), held on Wednesday, May 15, 2025.

The pledge represents a 122% increase from the 45 kobo interim dividend paid in 2024, which had been the highest on record for the Group.

If implemented, the new interim payout will also match the 2024 interim dividend benchmarks set by peer institutions such as Zenith Bank, GTCO, and UBA, each of which declared N1 per share last year.

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Acting Group CEO, Bolaji Agbede, made the commitment in direct response to repeated shareholder calls for better yields, citing the bank’s growing earnings and the expanding profitability of its international subsidiaries.

“We will be able to do an N1 interim dividend, and we will go the extra mile in delivering,” Agbede told investors, assuring them of the sustainability of Access Holdings’ income base across Africa and beyond.

The push for higher dividends comes on the heels of a strong 2024, during which Access Holdings posted a profit after tax of N642.2 billion, a 3.7% increase from N619.3 billion recorded in 2023.

The Group’s earnings per share (EPS) for the year stood at N16.71, slightly trailing industry peers such as GTCO (N35.44), Zenith Bank (N32.87), and UBA (N21.73).

Despite the gap in EPS, Access Holdings maintained its reputation as a consistent dividend-paying entity, with a total 2024 dividend of N2.50 per share, comprising a final dividend of N2.05 and the earlier interim payout of 45 kobo.

The final dividend was ratified at the AGM and electronically disbursed to qualified shareholders on the same day.

At the current share price of N22, the total dividend represents a yield of 11.36% and a payout ratio of 19.51%, highlighting the Group’s commitment to rewarding investors amid macroeconomic pressures.

A notable moment at the AGM was the unsuccessful attempt to pass a composite resolution for the election and re-election of directors.

The motion was eventually split, allowing shareholders to vote on each director individually.

The N2.05 final dividend translates to a total disbursement of N109.3 billion for 2024. Including the interim dividend, Access Holdings has now paid out N317.2 billion in dividends over the past five years, achieving a compound annual growth rate (CAGR) of 44.9% and an average payout ratio of 23%.

In a further boost to investor confidence, the Group released its unaudited Q1 2025 results, showing post-tax profits of N182.75 billion, up 14.7% year-on-year. This figure already accounts for 28.5% of the 2024 full-year profit, indicating strong earnings momentum for the current year.

The promise of a record interim dividend and the positive trajectory in quarterly earnings underscore Access Holdings’ renewed focus on shareholder value, capital efficiency, and sustainable growth across its multinational operations.