May & Baker Nigeria Plc shareholders have approved a final dividend of 50 Kobo per ordinary share for the financial year ended December 31, 2025, following the company’s 75th Annual General Meeting held in Lagos.
The dividend approval was one of several resolutions unanimously passed by shareholders at the meeting held on June 4, 2026, at the Muson Centre, Onikan, Lagos.
According to the company, the approved dividend amounts to ₦862.62 million before the deduction of applicable withholding tax and will be paid to eligible shareholders in line with the company’s dividend payment schedule.
The approval reflects management’s confidence in the pharmaceutical company’s financial performance despite the challenging operating environment that continued to impact manufacturers across Nigeria during the review period.
Shareholders also received and considered the company’s audited financial statements for the year ended December 31, 2025, alongside disclosures relating to the remuneration of managers contained in the annual report.
As part of board-related resolutions, shareholders approved the re-election of Mr. Kolawole Olalekan Durojaiye and Mr. Michael Chineme Odumodu as directors of the company.
The meeting further authorised the board to fix the remuneration of the external auditors for the current financial year.
In addition, shareholders elected members of the Statutory Audit Committee. The committee comprises Mr. Kolawole Olalekan Durojaiye and Mr. Michael Chineme Odumodu representing the board, alongside Mrs. Christie O. Vincent-Uwalaka, Mr. Oladimeji Bolaji Adeleke and Mr. Kolawole Kalejaiye representing shareholders.
Under special business, shareholders approved the remuneration of non-executive directors for the year ending December 31, 2026.
The resolution fixed the annual remuneration of each non-executive director at ₦1.5 million, while the chairman will receive ₦1.8 million.
Naijaonpoint Analysis
The approval of a 50 Kobo dividend underscores May & Baker’s commitment to maintaining shareholder returns despite persistent inflationary pressures, foreign exchange volatility and rising production costs facing pharmaceutical manufacturers.
The dividend payout demonstrates management’s confidence in cash flow generation and balance sheet stability. For income-focused investors, the continued dividend distribution reinforces May & Baker’s position among dividend-paying healthcare stocks on the Nigerian Exchange.
The re-election of directors and smooth passage of all resolutions without opposition also signals shareholder confidence in the company’s current leadership and strategic direction.
Going forward, investors will closely monitor May & Baker’s ability to sustain earnings growth, manage rising operating costs and capitalise on opportunities within Nigeria’s expanding healthcare and pharmaceutical sectors.
The company’s focus on corporate governance, shareholder returns and board continuity may continue to support investor sentiment as it navigates evolving market conditions in 2026.