By Ikugbadi Oluwasegun
First HoldCo Plc has approved a new dividend policy to distribute a minimum of 60% of the Group’s Profit After Tax, PAT, to shareholders annually, subject to regulatory approvals.
The Board of Directors approved the policy at its meeting held on 28 July 2026, citing confidence in the Group’s earnings capacity, strengthened capital position, improving asset quality, diversified revenue streams, and strong outlook for sustained profitability and growth.
Femi Otedola, Group Chairman, said the resolution demonstrates the Board’s commitment to delivering tangible value to shareholders following two years of strategic actions to strengthen governance, clean the balance sheet, restore confidence, rebuild capital, and reposition the Group for long-term growth.
“As performance continues to improve across our businesses, it is only appropriate that our shareholders participate more directly in the value being created,” Otedola stated.
The announcement follows strong H1 2026 results. For the half-year ended 30 June 2026, FirstHoldCo recorded:
- Gross Earnings: N1.93 trillion, up 16.7% year-on-year
- Operating Income: N1.38 trillion, up 25.8% year-on-year
- Profit Before Tax: N653.5 billion, up 83.5% year-on-year
- Profit After Tax: N526.1 billion, up 81.6% year-on-year
- Total Assets: N30.6 trillion
- Customer Deposits: N21.9 trillion
The Group said the performance reflects both the strength of its banking business and the growing contribution of its non-banking subsidiaries, validating its strategy of building a diversified financial services ecosystem.
