Nigerian Aviation Handling Company Plc shareholders have approved a cash dividend payout of N12.18 billion and a bonus share issue as the aviation ground handling firm moved to reward investors following its 2025 financial year performance.
The resolutions were passed at the company’s 45th Annual General Meeting held electronically on May 15, 2026, according to a corporate filing issued in Lagos on May 18.
Shareholders approved a dividend of N6.25 per share for the year ended December 31, 2025, amounting to a total payout of N12.18 billion.
The company, also known as nahco aviance, said the dividend would be paid to shareholders whose names appeared in the register of members within the qualifying period.
Investors also endorsed a one-for-seven bonus share issue in a move expected to increase the company’s issued share capital and improve liquidity in its shares on the Nigerian stock market.
Under the approved structure, the company’s share capital will rise from N974.53 million, comprising 1.95 billion ordinary shares of 50 kobo each, to N1.11 billion divided into 2.23 billion ordinary shares.
The increase will be achieved through the creation of an additional 278.44 million ordinary shares, which will rank pari passu with existing shares.
As part of the capital restructuring, shareholders authorised the transfer of N139.22 million from the company’s retained earnings and reserve accounts into the share capital account to finance the bonus issue.
The bonus shares will be allotted to shareholders registered at the close of business on May 1, 2026, at the ratio of one new share for every seven existing shares held.
The company added that where the allotment results in fractional holdings, directors would be permitted to round down such fractions to the nearest whole share or zero.
Shareholders further approved amendments to the company’s Memorandum of Association to reflect the enlarged share capital structure.
In board-related resolutions, shareholders re-elected Abdulhamid Aliyu, Rev Victor Abimbola Olaiya and Mrs Adebisi Oluwayemisi Bakare as directors of the company.
They also approved the appointment of PricewaterhouseCoopers as external auditors effective from the 2026 financial year, while authorising the directors to determine the auditors’ remuneration for the year ending December 31, 2026.
The meeting also ratified the composition of the company’s audit committee. Dr Okpan Awa Erem, Alhaji Mohammed Gambo Fagge and Mr Ridhwan Hamza were elected to represent shareholders on the committee, while Mr Akinwumi Godson Fanimokun and Mr Tajudeen Moyosola Shobayo will represent the board.
In addition, shareholders approved N150 million as remuneration for non-executive directors for the 2026 financial year, subject to applicable withholding tax deductions.
The company also renewed a general mandate allowing it to procure goods and services from related parties or interested persons in the ordinary course of business, in line with Rule 20.8 of the Nigerian Exchange issuers’ rules.
NAHCO’s resolutions come amid growing investor interest in aviation and logistics firms benefiting from increased passenger traffic, cargo operations and improved business activity in Nigeria’s aviation sector.
The company’s board was also authorised to execute all agreements and regulatory filings necessary to implement the approved capital increase, bonus issue and related corporate actions.