Shareholders of Nigerian Aviation Handling Company (NAHCO) Plc have approved a N12.18 billion cash dividend and a bonus issue of 278.44 million ordinary shares for the 2025 financial year, extending the company’s streak of higher dividend payouts to five consecutive years on the back of stronger earnings.

The approval was granted at the company’s annual general meeting held at the weekend, where shareholders also commended the board and management for sustaining strong financial performance and delivering consistent value to investors.

The N12.18 billion gross cash dividend represents an increase from the N11.58 billion paid for the 2024 financial year, with shareholders receiving N6.25 per share compared to N5.94 paid a year earlier.

In addition to the cash payout, shareholders approved a bonus issue of one ordinary share of 50 kobo for every seven ordinary shares held, increasing investors’ holdings by about 14.3 percent. A shareholder with 1,000 shares, for instance, received about 143 additional shares, raising total holdings to 1,143 shares.

The higher payout followed another year of robust earnings growth. NAHCO’s audited financial statements for the year ended December 31, 2025 showed that revenue rose by 21.8 percent to N65.21 billion from N53.54 billion in 2024.

Gross profit increased to N38.61 billion from N33.08 billion, while operating profit climbed by 25 percent to N24.84 billion from N19.84 billion.

Profit before tax grew by 30 percent to N24.26 billion from N18.70 billion, while profit after tax rose by 39.91 percent to N18.00 billion from N12.87 billion. Earnings per share also increased by 40 percent to N9.24 from N6.60.

The group’s financial position also strengthened during the year, with total assets rising to N53.88 billion from N46.95 billion, while shareholders’ funds increased by 32 percent to N26.50 billion from N20.08 billion.

Shareholders said the company’s improving fundamentals and consistent earnings growth have reinforced confidence in its long-term prospects.

Faruk Umar, president of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said the company’s operational performance has continued to translate into improved shareholder returns.

“They have done very well. NAHCO is a delight to us as shareholders. Look at the results, look at the share price and look at our dividends; everything is so remarkable. Last year, the price was about N80 per share, today it is over N200, representing an increase of more than 150 percent. They keep growing the business, which gives us hope of higher dividends. We believe the dividend next year will be much higher,” Umar said.

Sunny Nwosu, Founding National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), said the company has endeared itself to shareholders through consistent performance and attractive returns.

According to him, the sustained appreciation in NAHCO’s share price reflects growing investor demand, with many shareholders preferring to retain their holdings because of the company’s strong performance.

“NAHCO is growing and we are happy about that. We are excited to be part of this family. The board and management deserve commendation, but they must not rest on their oars,” Nwosu said.

Another shareholder, Patrick Ajudua, described the dividend and bonus issue as one of the most rewarding for investors this year.

“There is no better joy for shareholders this year than what NAHCO is giving to its shareholders. An improved dividend of N6.25 plus bonus of one for seven for the 2025 financial year, and good future prospects to reward shareholders for their investments. I think NAHCO is a place for stakeholders,” he said.

Chairman of NAHCO Plc, Seinde Fadeni, said the company is well positioned to benefit from emerging opportunities as reforms in the aviation sector and improving macroeconomic conditions support industry growth.

According to him, NAHCO remains focused on executing strategic initiatives that will sustain growth and enhance returns to shareholders, including an equipment renewal programme that has added more than 300 ground support equipment to the company’s fleet.

“Our operational excellence continues to show in our results, which we know should delight you as owners of the company,” Fadeni said.

He added that beyond dividend payments, shareholders have also benefited from the significant appreciation in the company’s market value, adding that the board remains committed to sustaining leadership in existing markets while pursuing new growth opportunities anchored on diversification and sustainability.

Olumuyiwa Olumekun, Group managing director, said despite global economic uncertainties and geopolitical risks, the company would continue to leverage its efficient operating model to sustain growth.

He said NAHCO plans to accelerate diversification, complete ongoing digitisation projects, expand cargo facilities and continue investing in new equipment in 2026.

“We aim to sustain double-digit growth, enhance shareholders’ return and lead in sustainable aviation practices,” Olumekun said.

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Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.