Transcorp Power Plc has declared a final dividend of N3.50 to shareholders for the year ended 31 December 2024. This is in addition to an interim dividend of N1.50 already paid to shareholders.
The Company reported revenue of N305.94 billion for the 12 months period, up by 115.27% from N142.12 billion reported in FY 2023.
Profit after tax grew year on year by 164.65% to N80.013 billion from NN30.234 billion reported the previous year.
Earnings per share of the Company stands at N10.67.
At the share price of N324, the P/E ratio of Transcorp Power stands at 30.37x with earnings yield of 3.29%.
Qualification date for the proposed dividend of N3.50 is Tuesday, February 11, 2025.
The Register of Shareholders will be closed on Wednesday, February 12, 2025, to Wednesday February 19, 2025 (both days inclusive).
On Tuesday, March 11 2025, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of Tuesday, February 11, 2025, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Commenting on the results, Emmanuel N. Nnorom, Chairman of Transcorp Power stated thus:
“Transcorp Power has become one of Nigeria’s most formidable power operators, committed to bridging the energy gap in the country and contributing to the nation’s economic growth. This financial performance reflects our unwavering commitment to our shareholders and stakeholders. We remain steadfast in our pursuit of value creation and assure our investors of continued robust returns. I am proud of how our organisation faced and responded to a particularly challenging market and macroeconomic environment and our future is bright.”