The Nigerian Aviation Handling Company Plc has announced a significant payout for its investors, recommending a total cash dividend of N12.18bn for the 2025 financial year. The move follows a period of stellar financial performance where the West African aviation logistics leader maintained a double-digit growth trajectory across all primary business metrics.
Under the new proposal, shareholders will receive a cash dividend of N6.25 per share, a marked increase from the N5.94 paid in 2024.
In a further move to bolster investor value, the board has recommended a 1-for-7 bonus share issue, effectively increasing shareholder stakes by 14.3 per cent at no additional cost. This means that a shareholder currently holding 1,000 shares will receive an additional 143 bonus shares, bringing their total holding to 1,143 shares.
The leadership of NAHCO attributed the robust payout to a mix of operational discipline and strategic expansion. The Chairman of NAHCO Plc, Seinde Fadeni, stated that “Our operational excellence continues to show in every financial result.”
In 2025, NAHCO recorded impressive growth across key performance indicators, combining a strong push for market share with disciplined cost management. The resultant effect is double-digit growth in revenues and profitability.
Fadeni further emphasised that the company’s ability to increase payouts while maintaining a healthy dividend cover of 1.56 times demonstrates a sustainable financial model.
He noted that “We are committed to translating corporate growth to improved returns to our shareholders through increased payout and sustainable management of the group. Beyond dividend payout, the value the company has built for its shareholders is seen in investors’ perception and valuation of its shares, which have remained one of the all-time best performers at the Nigerian stock market.”
Despite the inflationary pressures currently impacting the operating economy, NAHCO’s management highlighted that internal efficiencies have shielded the bottom line. The Group Managing Director of NAHCO Plc, Olumuyiwa Olumekun, explained that “we are not only driving sales and expanding market share, but we are also doing that with extremely impressive efficiency. Despite the inflationary environment and challenges in the operating economy, our operating profit margin improved from 37.05 per cent in 2024 to 38.08 per cent in 2025.”
Olumekun added that the group’s future remains secured through ongoing technical upgrades and infrastructure investments, noting that “The ongoing strategic initiatives, including extensive retooling of equipment and human capacity, as well as investments in expansive warehouses and storage processing, will continue to support future growth. We remain focused on sustaining this while exploring emerging opportunities.”
The company’s audited report for the year ended 31 December 2025, paints a picture of a business in peak form as total revenue rose 21.8 per cent, climbing from N53.54bn in 2024 to N65.21bn in 2025. Gross profit increased from N33.08bn to N38.61bn, while operating profit rose 25 per cent to reach N24.84bn.
This top-line growth filtered directly to the bottom line, with profit before tax jumping 30 per cent to N24.256bn and profit after tax growing by an impressive 39.91 per cent to reach N17.999bn. Consequently, earnings per share rose 40 per cent, moving from N6.60 in 2024 to N9.24 in 2025.
The group’s balance sheet also emerged significantly stronger over the twelve-month period as total assets increased from N46.95bn to N53.88bn. This financial stability was further reflected in the shareholders’ funds, which rose 32 per cent to N26.497bn.
Regarding the timeline for these returns, the company has confirmed that the qualification date for both the cash and scrip dividends is set for Friday, 1 May 2026. Following the necessary approvals at the company’s annual general meeting, the cash dividends will be directly credited to shareholders’ bank accounts on Friday, 15 May 2026.
The 2025 financial year was defined by a ‘mixed bag’ for the Nigerian economy. While the country pushed toward a $1tn economy goal, it faced significant inflationary pressures and foreign exchange volatility. For aviation companies, this meant higher costs for energy (Jet A1 fuel), aircraft maintenance, and imported specialised equipment.
However, the aviation sector showed remarkable resilience. In 2025, Nigeria improved its standing with the Cape Town Convention, boosting its compliance score to 75.5 per cent. This regulatory milestone allowed local airlines like Air Peace to access ‘dry lease’ aircraft for the first time in nearly a decade, leading to increased flight frequencies and higher demand for ground handling services provided by NAHCO.
