No Dividend Yet, Access Holdings Cites Regulatory Alignment, Assures Shareholders On Future Payouts

Access Holdings Plc has clarified that non-payment of dividend was driven by regulatory alignment and compliance considerations within its banking subsidiary, not diminished earnings capacity.

Speaking at the group’s fourth annual general meeting (AGM), the chairman of Access Holdings, Aigboje Aig-Imoukhuede assured shareholders that capital retained today is aimed at translating into sustainable returns tomorrow, and dividend payments will resume once supervisory conditions are met.

He stressed the group’s focus on closing the gap between returns and cost of equity and improving market recognition of value in its international subsidiaries.

He noted that Access Holdings’ performance in 2025 reflects a deliberate approach to strengthening the institution’s long-term fundamentals while maintaining strong financial results.

The group delivered profit before tax of N1.007 trillion, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets grew to N51.56 trillion, with customer deposits increasing strongly, reflecting sustained franchise momentum and deepening customer trust.

He stressed that “these results must be viewed in context. During the year, the Group took a prudent decision to accelerate the recognition of legacy exposures and exit regulatory forbearance positions, resulting in elevated impairment charges.”

He explained, this reflects a clear strategic choice to prioritise balance sheet strength and long-term resilience over short-term earnings optimisation.

“Periods of volatility often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing but improving in the quality and sustainability of its earnings,” he stated.

Looking ahead, he stated, “the Strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity; value creation is how we fully realise it.”

The chairman noted that while the Group continues to generate strong returns, closing the gap between returns and cost of equity remains central to unlocking shareholder value.

He also acknowledged the existence of significant unrealised value within the group’s international subsidiaries, with a clear emphasis on improving market recognition of this intrinsic value.

The Board addressed shareholder concerns regarding dividend payments, clarifying that the non-payment of dividend was driven by regulatory alignment and compliance considerations within the banking subsidiary.

Aig-Imoukhuede reaffirmed that this position does not reflect diminished earnings capacity but rather aligns with supervisory expectations and prudent capital management.

He assured shareholders of the Board’s commitment to resuming dividend payment as soon as regulatory conditions are satisfied, saying that “our approach is clear: capital retained today must translate into value delivered tomorrow and sustainable returns to our shareholders.”

During the year, Innocent Ike was appointed Group managing director/chief executive officer, while the Board was reinforced with the appointment of Ibironke Adeyemi, an independent non-executive director.

The chairman noted that leadership transitions were executed with stability and alignment, ensuring continuity of strategy, operational resilience, and stakeholder confidence.

The group reiterated its commitment to sustainability as an integral part of its strategy, advancing financial inclusion, supporting SMEs, and investing in education, the arts, and the creative economy as drivers of long-term economic and societal value.