Afriland Properties Shareholders Greenlight N329.7m Dividend Payout Amidst Steady Growth

In a significant move, Afriland Properties Plc's shareholders have given their nod to the company's board to disburse an estimated N329.7 million as total dividend payout for the financial year ended December 31, 2025. The approval came during the company's 13th Annual General Meeting (AGM), which was held virtually in Lagos.

Speaking to shareholders, the Chairman of the company, Mr Emmanuel Nnorom, outlined that the total dividend declared for the year amounts to N329.74 million, representing 24 kobo per ordinary share. This dividend comprises an interim dividend of 13 kobo per share, which has already been paid, and a final dividend of 11 kobo per share.

Nnorom emphasized that the dividend payout is indicative of the company's commitment to delivering value to its shareholders. Despite the macroeconomic backdrop, Afriland Properties recorded a 12 per cent growth in gross profit to N3.51 billion, up from N3.13 billion in 2024. The company also achieved an eight per cent revenue growth to N4.07 billion, compared to N3.75 billion in the previous year.

Explaining the company's performance, Nnorom noted that during the year, Afriland Properties commenced nine new projects, completed 18 projects carried over from previous years, and currently has 12 projects at various stages of completion across different locations nationwide. He attributed the company's 2025 performance to resilience, sound governance, and disciplined stewardship in a demanding operating environment.

Afriland Properties' Managing Director, Mr Azubike Emodi, also addressed the shareholders, stating that the company's total assets grew strongly by 33 per cent year on year to N65 billion, compared to N48 billion recorded in 2024. This notable increase was primarily driven by sustained investments in the development of new properties, as well as fair value gains realized on investment properties during the year.

Emodi 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 the balance sheet. However, he explained that the company's profit before tax declined by 29 per cent to N2.60 billion, down from N3.70 billion recorded in 2024. The profit after tax also dropped to N336 million from N2.61 billion in the prior year.

The decline in profit after tax was attributed to increased deferred tax liabilities arising from the upward adjustment in capital gains tax. Despite this, shareholders' funds 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 unrealized gains from equity investments, reflecting continued value creation for shareholders.

Afriland Properties remains focused on its core objectives, making progress across development, facilities management, asset enhancement, and investment activities, while maintaining a strong emphasis on efficiency and value creation. With its sights set on the future, the company is well-positioned to capture emerging opportunities in the real estate sector.

As a key player in Nigeria's real estate landscape, Afriland Properties is dedicated to delivering high-quality properties and exceptional services to its clients. With a legacy spanning over two decades, the company has established itself as a trusted and reliable partner in the industry. As the company continues to navigate the complexities of the macroeconomic environment, its commitment to transparency, accountability, and shareholder value remains unwavering.

Looking ahead, Afriland Properties is poised to capitalize on emerging trends and opportunities in the real estate sector, driven by Nigeria's growing population, urbanization, and infrastructure development. With its strong balance sheet, diversified portfolio, and experienced management team, the company is well-equipped to drive growth, innovation, and excellence in the years to come.

In conclusion, the approval of the dividend payout by Afriland Properties' shareholders marks a significant milestone for the company, underscoring its commitment to delivering value to its stakeholders. As the company continues to evolve and adapt to the changing landscape, its focus on resilience, governance, and disciplined stewardship will remain crucial in driving long-term success and sustainability.