The board of directors of Abbey Mortgage Bank Plc will at the company’s Annual General Meeting (AGM) on May 25 present the audited financial statements for the year ended December 31, 2025.
Also, the board of director of the company will during the virtual proceedings seek shareholders approval to pay dividend of 6 kobo per share which was declared and distributed to shareholders during the year. The total dividend payout amounted to N609.2 million, reflecting the bank’s commitment to delivering value to its investors.
The board has also recommended a final dividend of 12 kobo per share for the year ended December 31.
Abbey Mortgage Bank Plc share price which closed at N8 on Thursday, May 14 implies year-to-date (YtD) increase by 25 percent. The stock had reached a 52-week high of N16.35 per share as against a 52-week low of N5.
Abbey Mortgage Bank is one of Nigeria’s oldest primary mortgage institutions. For over three decades, it has provided premier mortgage, investment, and retail banking services, consistently focusing on affordable housing solutions and the financial empowerment of its clients.
The meeting, themed “Shaping the Future,” will be conducted virtually, reflecting the Bank’s forward-thinking approach to corporate governance and its commitment to digital-first engagement with its shareholders and other stakeholders.
The 2026 AGM serves as a critical milestone for the institution to reflect on its recent achievements while laying out a bold vision for its next chapter of growth. Abbey Mortgage Bank Plc aims to use the platform to demonstrate how it is evolving to meet the modern demands of the financial markets.
The bank is poised to shape the future as it positions to influence the broader mortgage and financial services landscape in Nigeria.
The virtual format is designed to ensure that all shareholders, regardless of their geographical location, can participate in the voting process and engage in real-time dialogue with the Bank’s Directors.
Looking at the notice of the 34th Annual General Meeting of Abbey Mortgage Bank Plc at the Nigerian Exchange Limited (NGX) also shows the special business of the meeting.
This includes to seek shareholders approval that subject to receipt of any required regulatory approvals and pursuant to Article 95 of the Bank’s Articles of Association, the Directors be authorised to establish a Debt Issuance Programme in an amount of up to N100billion or such foreign currency equivalent thereof as the Directors may consider appropriate, for the purpose of issuing debt securities (to include senior unsecured or secured, subordinated, convertible, preferred, equity linked or such other forms of debt obligations) in tranches of such amounts and at such dates, coupon or interest rates and upon such terms and conditions as may be determined by the Directors, subject to the grant of all required approvals from the relevant regulatory authorities.
The shareholders will also be expected to consider and, if thought fit authorize: the board of directors to raise additional equity capital of up to N64.547billion by way of private placement of 26,562,647,265 ordinary shares of 50 kobo each at N2.43 kobo per share, subject to regulatory approvals; that following the completion of the additional equity capital raise as contemplated in Clause 9a above, the Issued Share Capital of the bank be increased from N5.076billion divided into 10,153,846,154 ordinary shares of 50 kobo each to N18.358 billion by the creation of up to 26,562,647,265 ordinary shares of 50 kobo each; such new shares to rank pari passu in all respects with the existing ordinary shares in the capital of the bank.
Shareholders will be provided with secure access links to attend the meeting online. “Our journey over the past year has been one of resilience and deliberate evolution,” said Mobolaji Adewumi, managing director/chief executive officer, Abbey Mortgage Bank.
Adewumi said, “As we move into this next phase, we are focusing on creating a seamless, digitally driven experience that removes the traditional barriers to premier banking services. Shaping the future means reinforcing our position as the industry leader, building a bank that is as agile as it is reliable, while ensuring that every stakeholder benefits from our continued growth and innovation in the years to come.”