Shareholders of Access Holdings approve N125.3bn as dividend, mgt commits to innovation to enhance customer experience

….Mgt expresses commitment to innovation, enhancing customers’ experiences

COMFORT EKELEME, Business Editor

Shareholders of Access Holdings Plc have unanimously approved a final dividend of N2.50 per share, translating to N125.295 billion proposed by its board of directors for the financial year ended December 31, 2024.

This represents a 67 per cent increase from the N74.6 billion paid in 2023.

They gave the approval at the Access Holdings 3rd Annual General Meeting (AGM) in Lagos, while commending the management and board for the excellent performance within the period under review, and assured of continuous support.

Chairman, Progressive Shareholders Association of Nigeria (PSAN) , Mr. Boniface Okezie commended the financial result of the company, describing it as an exceptional perfAigboje Aig-Imoukhuedeormance.

Also, Chairperson of Highly Favoured Shareholders Association, Mrs Adetutu Shiyanbola, appreciated the Chairman and the entire board members of the company for presenting an outstanding financial report.

She also commended the company’s Corporate Social Responsibility (CSR) initiative, which focused on social welfare, community development, education, and health.

Another shareholder, Mr Nona Awoh, urged the board to uphold the legacies of the late Herbert Wigwe, former Chairman of the company, and ensure every shareholder is handled seriously.

Dr. Farouk Umaru, a shareholder of the bank also commended the bank for the performance within the year under review.

He also commended the bank’s expansion initiative, adding that it is the prayer of shareholders that the bank will do more in the coming years.

National Coordinator, Independent Shareholders Association of Nigeria (IS AN) Moses Igbrude maintained that the management of the bank has shown the proof that Nigerians can do it.

“He said, from consolidation, acquisition and we are here today. We should think of how to make this business successful,” he said.

Igbrude noted that the there is need for the management to come up with strategies to curb cybercrime.

Addressing shareholders, Chairman of the Group, Aigboje Aig-Imoukhuede said in 2024, the company’s gross earnings grew by 88 per cent year-on-year, rising from N2.594 trillion in 2023 to N4.878 trillion.

He said Access Holdings had designed business imperatives for the next three years to ensure that the company remains at the forefront of the financial services industry in Africa while delivering sustainable value to shareholders.

According to him, the business imperatives include consolidation of geographical expansion, cost optimisation, innovation as a strategic enabler for new ventures, and investment management.

He, however, noted that the rights issue strengthened the company’s capital base, increasing its shareholders’ funds to N4.76 trillion.

“This strength in our balance sheet serves as the foundation upon which we are executing our ambitious long-term growth strategy.”

According to him, despite the challenges faced in the past year, ” Our resilience and strategic initiatives have positioned us well for future growth.

“As we look ahead, we remain dedicated to driving innovation, enhancing customers experiences, and promoting sustainable practices that contribute positively to our communities.

“By the grace of the Almighty, together we will realize our vision of being the world’s most respected African financial services group,” he said.

He explained that the Profit Before Tax (PBT) rose from N729 billion in 2023 to N867 billion in 2024, representing a solid year-on-year increase in spite of external pressures from inflation and currency depreciation.

He said, “Considering our strong earnings performance and continued growth, the Board of Directors has proposed a final dividend per share of N2.05 for the year 2024.

“This brings the total dividend for 2024 to N2.50 per share. With this, the dividend payout for the year amounts to N125.29 billion.

“These results collectively reinforce that Access Holdings is not only a well-capitalised financial group but also one that is structurally positioned to scale sustainably, adapt to policy dynamics, and continue delivering long-term value to you, our shareholders.”

According to him, the financial performance of Access Holdings in 2024 underscores the underlying strength of our balance sheet and the resilience of our Group.

“Central to this success was our landmark capital raising programme, through which we raised N351 billion through a rights issue.

“This strategic initiative made Access Bank the first Nigerian bank to meet the new N500 billion minimum capital requirement set by the Central Bank of Nigeria well ahead of the 2026 deadline,” the Chairman added.

Acting Group Chief Executive Officer, Mrs Bolaji Agbede appreciated every shareholder who contributed significantly to the rights issue of N351 billion.

Agbede assured shareholders of plans to deliver the proposed N1.00 interim dividend in the course of the year.

She said, “We will look into delivering a N1 interim dividend in the course of the year, and we are counting on you to sell the Access brand to generate the revenue needed.

“We will also continue to do a lot on sustainability. I also want to clarify that our contributions are not solely in the South-West; over 15,000 people have been impacted in the North.

“Our sustainability project is not only in Nigeria but everywhere we have our presence.

“We will also continue to work on cybersecurity by investing in the right technology,” she said.