Transcorp Hotels Shareholders Approve N1.30 Dividend, Back 2026 Expansion Plans

Shareholders of Transcorp Hotels Plc have approved a dividend of N13.3 billion for the 2025 financial year, equivalent to N1.30 per share, at the 12th Annual General Meeting held in Abuja, on Thursday.
The N13.3 billion payout, the highest in over a decade, combined a N0.10 interim and N1.20 final dividend for 2025, surpassing the previous year’s N1.00 per share final payout.
Shareholders also commended management for the company’s continued improvement in financial performance over the years.

Chairman of Transcorp Hotels Plc, Dr Awele Elumelu, said 2025 was a strong year, with revenue rising by 38 per cent to N97 billion, up from N70 billion in the preceding year. She attributed the growth to a combination of elevated service standards, higher demand for food and beverage offerings, and a focus on service excellence that drove repeat business.

Despite inflationary pressures, the company maintained strong profitability, with Profit After Tax (PAT) rising by N32.8 billion, representing a 45 per cent year‑on‑year growth, signaling both revenue strength and improved operational efficiency.

Looking ahead to 2026, Dr Elumelu said the company remains focused on developing a new hotel in Lagos – Transcorp Hotels, Ikoyi – a flagship five‑star property aimed at revolutionising high‑end accommodation and premium guest experience in the city. She acknowledged that geopolitical tensions and macroeconomic uncertainties could pose challenges, but expressed confidence in a positive long‑term outlook for the hospitality industry.

The managing director/chief executive officer, Uzoamaka Oshogwe, said the company is partnering with Transcorp Power to explore cheaper power options and reduce energy costs.
She said one of the key initiatives introduced toward the end of 2025 was the dual gas burner system, which uses gas to power all boilers across the 667 rooms at the Transcorp Hilton.
This system not only cuts costs but is also more environmentally friendly.
Oshogwe also said the company is also working with Transcorp Energy on renewable energy solutions as part of its broader Environmental, Social and Governance (ESG) strategy.

For 2026, the MD outlined three core priorities including: Revenue growth: directing limited funds into projects with strong capital appreciation and a multiplier effect on revenue: Operational excellence: investing in staff and technology to strengthen service delivery and efficiency and brand relevance: ensuring the market clearly understands what the Transcorp Hotels brand stands for and how it aligns with sustainable operations.

Shareholders received and approved the audited financial statements for 2025 and the reports of the Directors, Auditors and Audit Committee.
Earlier in the meeting, the Board of Directors was authorised to fix the remuneration of the external auditors for the 2026 financial year, while total Directors’ remuneration for 2026 was fixed at N375 million, effective January 1, 2026.
Dr Awele Elumelu’ appointment as as a Director of the company, was ratified while Garba Abubakar and Adesimbo Bello‑Ukiri were re‑elected to the Board after retiring by rotation. The following shareholders were re‑elected to the Audit Committee: Obot Akaninyene, Eric Akinduro and Erinfolami Gafar, while the Board’s representatives on the Audit Committee were re‑appointed as Bolanle Onagoruwa and Garba Abubakar.
Commenting on the company’s performance, shareholders expressed largely positive sentiments at the AGM.
National chairman of New Dimension Shareholders Association of Nigeria, Patrick Ajudua, expresed satisfaction on the dividend payout and urged management to maintain cost optimisation as the country approaches the 2027 election cycle.
On her part, the national coordinator of Pragmatic Shareholders Association of Nigeria, Bisi Bakare, noted that the N1.30 dividend accounted for nearly 50 per cent of the company’s earnings per share and commended the board for returning value to shareholders. Another shareholder, Kabir Abdullahi, welcomed both the dividend and the share price appreciation from below N30 to nearly N200, and expressed expectations of future interim payouts as well as strong performance from related entities such as Transcorp Power Plc.