Afriland Properties Shareholders Approve N329.7m Dividend Payout
Kayode Tokede
The shareholders of Afriland Properties Plc, yesterday approved the board’s payment of an estimated N329.7 million as total dividends payout for the financial year ended December 31, 2025.
The shareholders gave their approval at the 13th Annual General Meeting (AGM) of the company held virtually in Lagos.
Speaking to shareholders, the Chairman of the company, Mr Emmanuel Nnorom, stated that the total dividend declared for the year amounted to N329.74 million, representing 24k per ordinary share.
Nnorom noted that the dividend consisted of an interim dividend of 13k per share already paid and a final dividend of 11 kobo per share.
He said that the dividend payout reflected the company’s commitment to delivering value to its shareholders.
He explained that against the macroeconomic backdrop, the company recorded a 12 per cent growth in gross profit to N3.51 billion as against N3.13 billion recorded in 2024.
He explained that the company also achieved a eight per cent revenue growth to N4.07 billion, from N3.75 billion in 2024.
“This reflects steady growth in spite of macroeconomic constraints. During the year, we commenced nine new projects, completed 18 projects carried over from previous years, and we have 12 projects at various stages of completion across different locations nationwide,” he said.
Nnorom noted that the company’s 2025 performance reflected resilience, sound governance, and disciplined stewardship in a demanding operating environment.
He said, “We remain focused on protecting value, strengthening our asset base, and rewarding shareholders responsibly, while positioning the business to capture future opportunities across the real estate sector.”
Also speaking, Managing Director, Afriland Properties’, Mr Azubike Emodi said the company’s total assets grew strongly by 33 per cent year on year to N65 billion, compared to N48 billion recorded in 2024.
According to him, this notable increase was primarily driven by sustained investments in the development of new properties, as well as fair value gains realised on investment properties during the year.
He noted that the appreciation in the share price of the company’s equity investments further contributed to the overall expansion of the asset base, reinforcing the strength of our balance sheet.
He said that the company’s profit before tax declined by 29 per cent to N2.60 billion down from N3.70 billion recorded in 2024.
He explained that the profit after tax also dropped to N336 million from N2.61 billion in the prior year as he attributed the cause to increased deferred tax liabilities arising from the upward adjustment in capital gains tax.
“Shareholders’ funds also recorded a steady increase, rising by 3 per cent to N36.09 billion from N34.93 billion in 2024. This growth was largely supported by the profit generated after tax for the year, alongside unrealised gains from equity investments, reflecting continued value creation for shareholders.
“Afriland continues to make progress across development, facilities management, asset enhancement, and investment activities, while maintaining a strong focus on efficiency and value creation,” he said.
