Zichis Agro-Allied Industries Plc has proposed a 20 kobo dividend to its shareholders, a move that comes just one week after the Nigerian Exchange Limited (NGX) suspended trading of the company’s shares.
The suspension, effective February 23, 2026, was triggered by an extraordinary 772.36 percent price surge within a month of the company’s listing on the Growth Board.
Zichis Agro Allied Industries Plc was listed on the NGX Growth Board on January 20. The company listed with 1.086 billion shares at N1.81 per share. The share price stood at N17.36 on February 20 before its suspension, rising by 772.36 percent year-to-date. Zichis listed its 600 million shares by Introduction.
Listing by introduction means the company did not issue new shares to the public to raise capital at the time of listing; instead, its existing shares were admitted to the daily official list of the Exchange. Its initial market capitalisation was N1.086billion, but it rose to N10.42billion after one month of listing.
In a notice to Trading License Holders and the investing public, the NGX cited Rule 7.0 of the Rules on Suspension of Trading in Listed Securities. The exchange stated that the suspension is necessary to maintain market integrity and is in the “interest of the investing public and in accordance with SEC Rules.
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The Exchange confirmed that the freeze on Zichis shares will remain in place until the conclusion of a formal investigation into the recent trading activities of the company.
While regulators investigate potential market manipulation and liquidity concerns, the company is moving forward with its dividend payout plan, signalling a commitment to rewarding investors despite the ongoing regulatory review.
“A Final Dividend of 20 kobo per 50 kobo ordinary share, subject to withholding tax, and on approval will be paid to shareholders whose name appear in the share register of members as at the close of business on March 16, 2026,” the company said in its corporate announcement on March 2, noting the dividend is for the period ended December 31, 2025.
Also, Zichis Agro-Allied Industries Plc proposes bonus shares in the ratio of one (1) new share for every one (1) existing share held by shareholders whose names appear in the Register of Members at the close of business on March 16, 2026, “subject to the approval of the shareholders at the annual general meeting”.
“The Register of Shareholders will be closed from March 17 to March 20, 2026. On April 29, 2026, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at March 16, 2026 and who have completed e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” the company said on Monday.
Since its debut, the stock has experienced extraordinary volatility. The company is an Ogun State-based integrated agribusiness. Its operations cover several areas of the agricultural value chain, including: Poultry & Fish Farming – Large scale egg production and aquaculture; Oil Palm – Plantation management and processing; and Animal Feed – Manufacturing and supply via its own feed mills.