Transcorp Power Plc has declared a total dividend of ₦41.2 billion to shareholders at its 13th Annual General Meeting (AGM), reflecting a strong financial performance for the 2025 financial year.

The payout comprises an interim dividend of ₦11 billion, equivalent to ₦1.50 per share, paid in August 2025, alongside a final dividend of ₦30 billion, translating to ₦4.00 per share.

The AGM, held at the Congress Hall of Transcorp Hilton Abuja, also saw shareholders approve the company’s audited financial statements for the year ended December 31, 2025.

The power generation company recorded revenue of ₦398.27 billion in 2025, up from ₦305.94 billion in 2024, underlining a significant year-on-year increase.

Chairman Emmanuel Nnorom attributed the growth to strategic investments and expanded generation capacity.

He noted that the commissioning of the GT20 turbine added 100 megawatts to output, increasing average available capacity from 417MW to 550MW.

The company also reduced its loan obligations by about ₦7 billion during the year, a move he said strengthened its financial position.

“We remain dedicated to improving lives and transforming Africa, ensuring operational excellence and making strategic investments that deliver sustainable value,” Nnorom said.

Managing Director and Chief Executive Officer Peter Ikenga said the results reflect sustained operational discipline and growth strategy, despite challenges in the power sector.

He pointed to ongoing issues with transmission infrastructure, which continue to affect electricity evacuation from generation plants.

“Notwithstanding transmission line constraints, our performance remained strong and reflects our commitment to operational excellence and sustainable growth,” Ikenga said.

He added that the company is working with stakeholders to strengthen transmission networks and improve output delivery in 2026 and beyond.

Shareholders at the meeting praised the board and management for delivering consistent returns, describing the company’s performance as resilient within a challenging operating environment.

One shareholder, Patrick Ajudua, said the company had demonstrated strength relative to other generation firms, while another investor, Mrs Bakare Adeyinka, expressed confidence in its leadership.

However, concerns were raised over the persistent vandalisation of critical electricity infrastructure, with calls for coordinated action by government agencies, communities and stakeholders to protect national assets.

Like many generation companies, Transcorp Power continues to grapple with gas supply constraints and limitations in transmission capacity, issues that have long affected Nigeria’s electricity value chain.

Despite these headwinds, the company’s dividend declaration and revenue growth signal continued investor confidence and underline its position within the Transnational Corporation Plc portfolio.