NAHCO approves ₦6.25 per share dividend and bonus shares at 45th AGM

Nigerian Aviation Handling Company Plc (NAHCO) held its 45th Annual General Meeting electronically on May 15, 2026, where shareholders approved a final dividend of ₦6.25 per share for the financial year ended December 31, 2025, totalling ₦12.18 billion.

Shareholders approved a bonus share issuance of one new ordinary share for every seven held, funded by capitalising ₦139.22 million from retained earnings, with eligibility based on the register of members as of May 1, 2026.

The meeting also approved a share capital increase from ₦974.53 million to ₦1.11 billion through the creation of 278.44 million new ordinary shares, the appointment of PricewaterhouseCoopers as external auditors from the 2026 financial year, and ₦150 million in remuneration for non-executive directors for 2026.

NAHCO's ₦12.18 billion dividend payout and bonus share issuance signal that the company is in a strong enough cash position to reward shareholders generously while simultaneously expanding its share capital, a combination that tends to attract renewed retail and institutional investor interest on the Nigerian Exchange.

For investors already holding NAHCO shares, the 1-for-7 bonus issue represents an immediate uplift in share count without additional cost, though it will dilute earnings per share going forward.

Nigerian Exchange-listed aviation and logistics sector investors should watch how NAHCO's share price responds to the dilution effect over the next two to three quarters, as the market's reaction will indicate whether the capital restructuring is being read as a growth signal or a dilution concern.