Transcorp Plc Disburses N10.161bn To Shareholders

Shareholders of Transnational Corporation Plc (Transcorp) have approved the disbursement of N10.161 billion dividends for the year-end 2024.

That means a full dividend of N1.00 per share comprising the interim dividend of 40 kobo (equivalent of 10 kobo per share pre-capital reconstruction) paid on August 07, 2024 and a final dividend of 60 kobo per share for approval at the 19th Annual General Meeting, being a total dividend of N10,161,997,573.25 billion.

The shareholders unanimously approved the dividends sharing at the company’s annual general meeting yesterday in Abuja, with a mandate to the management to embark on strategic investments driven by a mission to improve lives and transform Africa.
Transcorp Group delivered impressive financial results in 2024, maintaining our strong upward trajectory amidst a challenging economic landscape, further solidifying our market leadership and strategic positioning.

The company achieved significant year-on-year growth, with gross earnings reaching N408 billion as of December 31, 2024, reflecting a 107 per cent increase from N197 billion in 2023. Profit before tax for the group grew by 132 per cent to N136.7 billion, compared to N58.8 billion in 2023, while Profit After Tax for the Group surged 188 per cent to N94.1 billion in 2024, up from N32.6 billion in 2023.
Its total assets grew by 42 per cent, reaching N751.6 billion by the end of 2024, an increase from N529.9 billion in 2023.

Shareholders’ funds for the group increased by 45 per cent, from N187.3 billion in December 2023 to N271.7 billion by December 2024.

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Transcorp Group is principally engaged in the power, oil & gas and hospitality industry. Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services.

Chairman of the group, Tony Elumelu said his team is committed to improving lives and transforming Transcorp businesses. “Our strong performance reflects our commitment to executing our strategy, driving sustainable economic returns, and maximising shareholder value.
” He restated the commitment to delivering significant, long term value to the shareholders.
Looking ahead, Elumelu said the company has commenced 2025 with a deep sense of purpose and an unwavering commitment to unlocking unmatched excellence across Transcorp Group.
“Our journey of growth, innovation, and transformation has brought us to a pivotal moment where the opportunities ahead are both vast and exciting.
“This year, we are setting our sights higher, ready to harness the full potential of our diverse portfolio to deliver outstanding results, push the boundaries of industry standards, and create lasting value for our shareholders, employees, and customers,” He told the audience at Transcorp Hilton in Abuja yesterday..

President and GCEO of the company, Dr Owen Omogiafo said the strategy for 2025 revolves around creating meaningful and sustainable change. She said the group would be guided by a clear vision—to transform Africa by building globally competitive businesses in key strategic sectors in 2025.

“We are entering an exciting phase of growth across our energy and hospitality businesses. We will continue to pursue operational excellence, invest in innovation, and harness digital capabilities to unlock new opportunities and deliver superior value,” the GCEO stated, adding that the company’s integrated strategy will be underpinned by disciplined capital allocation, proactive risk management, and a strong focus on sustainability and impact.

Omogiago said the company is focused on delivering additional 100MW to the national grid by end-2025 to accelerate Nigeria’s energy transition.

She said Transcorp Power Plc is focused on operational excellence, sustainability, and increased capacity. In 2025, we are advancing critical maintenance initiatives that will significantly enhance plant efficiency and reliability.