Shareholders of Nigerian Aviation Handling Company (NAHCO) Plc have approved the issuance of 278.44 million bonus shares as the company intensifies efforts to strengthen shareholder value, expand operational capacity and accelerate growth through digitisation and cargo infrastructure development.
The approval was granted at the company’s Annual General Meeting (AGM) held at the weekend, where shareholders also commended the board and management for sustaining operational efficiency, strong market performance and improved returns despite prevailing economic challenges.
Under the approved bonus arrangement, shareholders will receive one ordinary share of 50 kobo for every seven ordinary shares held, increasing shareholders’ holdings by approximately 14.3 per cent.
The development means that an investor holding 1,000 shares before the bonus issue would receive about 143 additional shares, bringing total holdings to approximately 1,143 shares.
In addition to the bonus shares, shareholders approved a cash dividend of N6.25 per share for the 2025 financial year, amounting to a total payout of N12.18bn.
The dividend represents an increase from the N5.94 per share distributed in 2024 and extends the company’s streak of consecutive dividend increases to five years.
Speaking at the AGM, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, said the company had continued to distinguish itself through strong fundamentals, sustained profitability and growing investor confidence.
According to him, NAHCO’s consistent growth in earnings, rising market valuation and improving operational efficiency have significantly enhanced shareholder value over the years.
“They have done very well. NAHCO remains a delight to shareholders. The results, share price performance and returns have all been remarkable.
The company continues to grow its business while rewarding investors consistently,” Umar said.
Also speaking, Founding National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, commended the board and management for maintaining strong performance despite macroeconomic headwinds.
He noted that increasing investor demand for the company’s shares reflected confidence in its long-term growth prospects and resilient business model.
“NAHCO is growing steadily and shareholders are excited about the company’s future. The board and management deserve commendation, but they must continue to sustain the momentum,” Nwosu stated.
Another shareholder, Mr. Patrick Ajudua, described the combined bonus and cash reward package as one of the most attractive offers to shareholders in the current financial year.
Chairman of NAHCO Plc, Dr. Seinde Fadeni, said the company remained strategically positioned to benefit from emerging opportunities within the aviation industry as economic reforms and improving business activities continue to support sector growth.
He explained that the company had intensified strategic investments aimed at strengthening operational efficiency, sustainability and long-term competitiveness across its business segments.
According to him, NAHCO has expanded its equipment re-fleeting programme with the addition of over 300 ground support equipment to its operational fleet in order to enhance service delivery and maintain leadership in the aviation handling industry.
“We remain the leading ground handling company in West Africa and continue to invest in modern equipment, technical capabilities and staff welfare to sustain operational excellence,” Fadeni said.
He added that the company was embedding environmental sustainability into its operations in line with global best practices while pursuing diversification, innovation and long-term value creation for stakeholders.
Fadeni further assured shareholders that the board remained committed to translating corporate growth into improved market value and enhanced returns for investors.
On the company’s growth outlook, Group Managing Director of NAHCO Plc, Mr. Olumuyiwa Olumekun, said the company had demonstrated resilience amid global economic uncertainties and geopolitical pressures affecting international markets.
He disclosed that NAHCO would accelerate its digitisation initiatives, complete ongoing technology-driven projects and expand cargo handling facilities in 2026 to capture emerging opportunities within aviation logistics and supply chain services.
According to him, the company would continue leveraging operational efficiency, innovation and business diversification to sustain growth and mitigate risks in the evolving aviation sector.
“We aim to sustain double-digit growth, improve shareholders’ returns and maintain leadership in sustainable aviation practices,” Olumekun said.
Meanwhile, the company’s audited financial statements for the year ended December 31, 2025 showed strong growth across major performance indicators.
Total revenue rose by 21.8 per cent to N65.21bn in 2025 from N53.54bn in 2024, while gross profit increased to N38.61bn from N33.08bn recorded in the preceding year.
Operating profit grew by 25 per cent to N24.84bn from N19.84bn, while profit before tax rose by 30 per cent to N24.26bn from N18.70bn in 2024.
Profit after tax climbed by 39.9 per cent to N18bn from N12.87bn, while earnings per share increased by 40 per cent to N9.24 compared with N6.60 in the previous year.
The company also recorded stronger balance sheet performance during the period, with total assets rising to N53.88bn from N46.95bn, while shareholders’ funds increased by 32 per cent to N26.50bn from N20.08bn recorded in 2024.
