Northern Nigeria Flour Mills proposes 25 kobo final dividend

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Northern Nigeria Flour Mills Plc has proposed a final dividend of 25 kobo for every share of 50 kobo for the period ended March 31, 2025. This final dividend will amount to a total of N44.55 million.

The directors had paid an interim dividend amounting to N89.1 million in the current financial year, representing a dividend of 50 kobo per share. The stock is currently trading at a 52-week high of N138.9 as against a 52-week low of N31.35.

Northern Nigeria Flour Mills Plc’s annual report for the year ended March 31, 2025, shows that its revenue grew to N35.392 billion from N25.951 billion in the prior year. Operating profit increased to N2.887 billion in the review year, from N2.320 billion in 2024.

Profit before taxation (PBT) increased to N2.887 billion as against N2.306 billion in the prior year, while profit for the year in review stood higher at N1.745 billion as against N1.525 billion recorded in the previous year.

The Company’s holding company is Golden Penny Food Limited (formerly Flour Mills of Nigeria Plc), which holds 59.6 percent (2024: 59.6perent) of the Company’s equity. Golden Penny Food Limited (formerly Flour Mills of Nigeria Plc) is incorporated in Nigeria.

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The ultimate controlling parent is Excelsior Africa Investments Limited (formerly Excelsior Shipping Company Limited), a company registered in Liberia. The beneficial owner of Excelsior Shipping Company is a trust established by the late John S. Coumantaros.

Northern Nigeria Flour Mills Plc was incorporated in Nigeria with interests in the milling of wheat, maize and sorghum. The Company operates in Kano state, Nigeria.

According to the registrar of members, the following shareholders of the Company held more than 5percent of the issued share capital of the Company – Golden Penny Food Limited (formerly Flour Mills of Nigeria Plc) (106,206,273 units or 59.60 percent), and GTB /Northern Nigeria Investment Limited (12,955,000 units or 7.27 percent).

The proposed final dividend, which is subject to appropriate withholding tax (WHT) and approval, will be paid to shareholders whose names appear in the register of members as at the close of business on September 17, 2025.

The company said in its corporate actions announcement that the register of its shareholders will be closed from September 18 to September 25, 2025. Its annual general meeting (AGM) will hold, September 25, 2025.

“On 26th September 2025, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 17th September, 2025 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” Northern Nigeria Flour Mills Plc said in its notice signed by Ogwuche Theophilus, Company Secretary.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.