Presco Sets to Pay Interim Dividend amidst Rights Issue
Presco will be paying an interim dividend to shareholders this week amidst an ongoing rights issue. Following a bumper earnings harvest in the third quarter, the company board of directors approved N10 as an interim dividend payable to shareholders on November 21.
“An interim dividend of N10.00 for every share of 50k held, subject to appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, 7 November 2025,” Presco told the Nigerian Exchange last month.
On Friday, 21 November 2025, interim dividends will be paid electronically to shareholders whose names appear on the Register of Members as of Friday, 7 November 2025, the company added.
At the close of the trading session on Friday, the market value of Presco Plc’s 1 billion outstanding shares was N1.45 trillion, tracking behind its 52-week high.
9M-2025 Earnings Results
In its unaudited financial statement for 9M-2025, Presco’s post-tax profit surged by 114% year-on-year to N110.786 billion from N51.765 billion in the comparable period. At the unit level, the company’s earnings per share (EPS) surged to N110.79 from N51.77 in the equivalent period in 2024.
Analysts at CardinalStone Securities Limited said this was supported by strong turnover performance, gains from the consolidation of its Ghanaian subsidiary, and solid other income gains, which countered high production costs and the effects of elevated finance costs.
Revenue growth was robust, up by +113.5% year on year to N274.5 billion, driven by a strong performance in the Nigerian business – up +53.2% to N197.1 billion- likely supported by elevated CPO prices and healthy volume turnout.
Analysts said its consolidation of the Ghanaian business also added N69.5 billion for the period, reinforcing the group’s performance.
Its cost of sales also increased materially, climbed by +100.7% year on year to N72.4 billion, particularly in Q3’25, reflecting both the consolidation of GOPDC’s operations, as well as the company’s strategy of frontloading its production during the peak periods to cater for the lean season later in the year.
Analysts said this action usually leads to higher cost recognition in the latter quarters of the year. Nevertheless, the Gross margin improved by 1.7 percentage point to settle at 73.6%.
The company’s operating expenses also remained elevated, up by 88% year on year ; however, a 134.4% increase in other income assisted in the earnings before interest and tax (EBIT) margin increasing by 2.2 percentage points to 60.5%.
Rights Issue
Presco Plc opened the Rights Issue of 166,666,667 ordinary shares of N0.50 each at N1,420 per share on the basis of one (1) new ordinary share for every six (6) ordinary shares held as at October 13, 2025, to shareholders
The offer opened last week, Nov 12 and will close on 02 December 2025. The rights issue provides existing shareholders with the opportunity to increase their equity holdings in the company, thereby reinforcing their participation and support of Presco’s long-term vision.
The company said capital raised will be directed towards Greenfield and Brownfield acquisitions, some of which are already in their final contractual stages, as well as industrial expansion projects designed to enhance production capacity and reinforce the Company’s leadership in the region’s edible oil industry
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