Lagos: The shareholders of May and Baker Nigeria Plc have approved a total dividend of N862.617 million for the financial year ended December 31, 2025. The approval was granted during the company’s Annual General Meeting (AGM) held in Lagos on Thursday.
According to News Agency of Nigeria, the dividend translates to 50k per ordinary share of 50k each, subject to applicable withholding tax. This represents an increase from the 40k per share paid for the 2024 financial year. The Chairman of the Board, Sen. Daisy Danjuma, announced that the dividend would be paid to shareholders whose names appear in the register of members as of the close of business on May 19, 2026.
Danjuma reported that the company achieved a profit before tax of N6.5 billion in 2025, marking a 154 percent increase from N2.6 billion posted in 2024. She noted that tax expenses rose by 119 percent from N952 million in 2024 to N2.1 billion in 2025, attributed to increased profitability and deferred tax impact. The group’s profit after tax reac
hed N4.4 billion, a 173 percent increase from N1.6 billion recorded in 2024.
‘Earnings per share also grew by 173 percent, climbing from 94k in 2024 to 257k in 2025,’ Danjuma stated. She highlighted the performance of the operating subsidiary, Osworth Nigeria Ltd., which recorded revenue of N4.1 billion, a 46 percent increase over the N2.8 billion achieved in 2024. The subsidiary reported a profit after tax of N468 million compared with N289 million in the previous year, indicating a 62 percent growth in net earnings.
Danjuma emphasized the company’s focus on identifying opportunities amidst economic challenges and urged shareholders to continue supporting the management’s growth initiatives. She affirmed that the company would strategically invest to strengthen its position as a leading healthcare company in sub-Saharan Africa.
The Managing Director, Mr. Patrick Ajah, addressed the operating environment, noting the company’s engagement with the government on policies affecting local manufacturers. Ajah me
ntioned that as a result of these engagements, President Bola Tinubu signed an Executive Order waiving import duties on selected raw materials. He acknowledged the policy’s relief, although its impact is limited, with savings amounting to about 7.5 percent.
Ajah assured shareholders that the company’s receivables are monitored monthly and remain under control. Regarding strategic planning and board diversity, he disclosed that the management is implementing a strategic plan set to expire this year. He revealed that the company would hold an off-site session before year’s end to develop a new three-to-five-year strategic plan.
NAN reports that shareholders also approved the remuneration of directors and other resolutions presented at the meeting.