Abbey Mortgage Bank Plc has announced a N1.2 billion dividend payout, translating to 12 kobo per ordinary share of 50 kobo each, in a move that underscores its commitment to sustainable growth and shareholder value creation.

The announcement was made during the bank’s 34th Annual General Meeting (AGM), which brought together shareholders, board members, management, regulators, and other key stakeholders to review its financial performance and strategic direction.

At the meeting, shareholders approved key resolutions, including an additional capital raise and the dividend declaration, while commending the bank’s operational resilience and steady transformation within Nigeria’s financial services sector.

Managing Director and Chief Executive Officer of Abbey Mortgage Bank, Mobolaji Adewumi, said the institution remains focused on enhancing value delivery to shareholders while maintaining a balance between rewarding investors and strengthening long-term growth.

He said the bank’s next phase of growth will prioritise digitally driven banking services aimed at removing traditional barriers to financial access and improving customer experience.

“Our next phase is centered on delivering seamless and digitally driven banking experiences that eliminates the traditional barriers to premier financial services,” Adewumi said.

He added that the bank is working to build a resilient and agile institution capable of delivering meaningful value to all stakeholders.

Adewumi also highlighted the bank’s commitment to strong corporate governance, innovation, and expansion within Nigeria’s financial services industry.

The AGM also provided an opportunity for management to appreciate shareholders for their continued confidence and support, which the bank described as critical to its growth trajectory.

Abbey Mortgage Bank reaffirmed its focus on financial inclusion, innovation, and sustainable value creation as it continues to strengthen its position in the Nigerian banking sector.

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Shareholders of Transcorp Hotels Plc have approved a dividend payout of N13.3 billion for the 2025 financial year, translating to N1.30 per share, at the company’s 12th Annual General Meeting (AGM) held in Abuja.

The approved dividend, described as the highest in over a decade, comprises an interim dividend of N0.10 and a final dividend of N1.20 per share. The payout surpasses the N1.00 final dividend declared in the previous year, reflecting improved earnings and sustained financial performance.

Shareholders at the meeting commended the board and management for maintaining steady growth despite economic headwinds.

Revenue Growth and Profit Surge

Chairman of the company, Awele Elumelu, said the 2025 financial year marked a strong performance period for the hospitality firm.

According to her, revenue rose by 38 per cent to N97 billion, up from N70 billion recorded in the preceding year. She attributed the growth to enhanced service standards, increased demand for food and beverage offerings, and a sustained focus on service excellence that encouraged repeat patronage.

Despite inflationary pressures and macroeconomic challenges, the company reported a significant improvement in profitability. Profit After Tax (PAT) increased by N32.8 billion, representing a 45 per cent year-on-year growth.

Elumelu said the performance signals not only revenue strength but also improved operational efficiency and disciplined cost management.

2026 Expansion Strategy

Looking ahead, the chairman disclosed that the company remains focused on expanding its footprint, particularly through the development of a new five-star hotel in Lagos — Transcorp Hotels, Ikoyi.

The planned flagship property, she said, is expected to redefine high-end accommodation and premium guest experiences in Nigeria’s commercial capital.

While acknowledging potential risks arising from geopolitical tensions and macroeconomic uncertainties, Elumelu expressed optimism about the long-term prospects of Nigeria’s hospitality sector.

“The fundamentals of the industry remain strong, and we are positioning the company to take advantage of emerging opportunities,” she said.

Energy Cost Optimisation and ESG Focus

Managing Director and Chief Executive Officer, Uzoamaka Oshogwe, highlighted ongoing efforts to optimise operational costs, particularly energy expenses.

She revealed that the company is collaborating with Transcorp Power to explore more affordable energy solutions. One of the major initiatives introduced toward the end of 2025 was a dual gas burner system powering boilers across the 667 rooms at the Transcorp Hilton.

According to Oshogwe, the system significantly reduces energy costs and offers environmental benefits by lowering emissions compared to conventional systems.

The company is also working with Transcorp Energy on renewable energy projects as part of its broader Environmental, Social and Governance (ESG) strategy, reinforcing its commitment to sustainability.

Core Priorities for 2026

For the 2026 financial year, Oshogwe outlined three key strategic priorities:

1. Revenue Growth: Channeling limited capital into projects with strong appreciation potential and multiplier effects on earnings.

2. Operational Excellence: Investing in staff training and technology to enhance service delivery and efficiency.

3. Brand Relevance: Strengthening market perception of the Transcorp Hotels brand, particularly in relation to sustainability and premium service standards.

Governance and Board Decisions

During the AGM, shareholders approved the audited financial statements for 2025, alongside the reports of the Directors, Auditors and Audit Committee.

The Board of Directors was authorised to determine the remuneration of external auditors for the 2026 financial year. Directors’ total remuneration for 2026 was fixed at N375 million, effective January 1, 2026.

Elumelu’s appointment as Director was ratified, while Garba Abubakar and Adesimbo Bello-Ukiri were re-elected to the Board after retiring by rotation.

Members re-elected to the Audit Committee include Obot Akaninyene, Eric Akinduro and Erinfolami Gafar, while Bolanle Onagoruwa and Garba Abubakar were re-appointed as Board representatives on the committee.

Shareholder Reactions

Shareholders expressed satisfaction with the dividend payout and the company’s financial trajectory.

Patrick Ajudua, National Chairman of the New Dimension Shareholders Association of Nigeria, praised the dividend declaration and urged management to sustain cost optimisation strategies, particularly as the country approaches the 2027 election cycle.

Similarly, Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, noted that the N1.30 dividend represents nearly 50 per cent of earnings per share, commending the board for prioritising shareholder value.

Another shareholder, Kabir Abdullahi, highlighted the company’s strong share price appreciation — from below N30 to nearly N200 — and expressed optimism about future interim dividends and continued strong performance from related entities within the Transcorp Group.

With robust earnings growth, expansion plans and a renewed focus on sustainability, Transcorp Hotels appears positioned to consolidate its standing in Nigeria’s evolving hospitality industry in 2026 and beyond.

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