Geregu Power Stuck at 52-week High Ahead of Dividend Payment
With two shareholders controlling more than 83% of the company, Geregu Power Plc market value has been stuck at its 52-week high with near zero price volatility on the long range despite mouthwatering earnings growth.
Geregu Power is pocked by Amperion Power Distribution Company Limited with 78.05% interest in addition to a 5% stake for Libreville Power Limited. Director shareholding in Geregu Power is minuscule.
Due to the absence of significant market activities, its share price has been flatlined at N1150 over donkey months; surprisingly, its impressive earnings could not move the power-generating company’s market value.
Data from the Nigerian Exchange showed that its 2.5 billion shares outstanding were valued at N2.875 trillion, making the company one of the market movers.
Equities investors failed to react to the company’s strong dividend payment. In a notice, the board of directors announced a final dividend of N8.50 per ordinary share, subject to appropriate withholding tax and approval. The amount will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 13th March, 2025.
“Geregu Power Plc., with a free float of N484,672,430,050 (16.85% in value) as at December 31, 2024, is compliant with Nigerian Exchange Limited’s free float requirement for companies listed on Main board.
Geregu Power’s profit after tax grew by more than 70% year on year to N27.411 billion in 2024, from N16.05 billion in the comparable period in 2023. The surge was driven by increased revenue.
Its audited financial statement showed that revenue climbed to N137.126 billion from N82.908 billion. Hence, its board of directors recommends an N8.50 dividend per share for shareholders. #Geregu Power Stuck at 52-week High Ahead of Dividend Payment FG to Create Diaspora City to Boost Tourism
