CAP investors give green light to N4.00 dividend distribution per share

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Chemical and Allied Products Plc has approved a final dividend of N4.00 per 50 kobo ordinary share for the financial year ended 31 December 2025. This represents a 67 per cent increase over the previous year, reinforcing the company’s continued commitment to delivering consistent value to shareholders.

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The dividend, amounting to a total payout of N3.26bn, was approved at the Company’s 61st Annual General Meeting held in Lagos, where shareholders also endorsed the Board’s strategic direction and approved all resolutions presented at the meeting.

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The record dividend follows a year of strong financial performance across all key metrics, including operational efficiency, cost optimisation, margin protection, and portfolio expansion.

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The company recorded revenue of N44.9bn for the 2025 financial year, a 23 per cent increase from N36.4bn in 2024. Gross profit grew by 32 per cent to N19.4bn, while profit before tax rose 51 per cent to N9.1bn, up from N6.1bn in the prior year.

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Chairman of the Board at CAP Plc, Fola Aiyesimoju, noted that the performance reflects the strength of the Company’s strategic foundations, while reiterating its commitment to delivering consistent returns to shareholders.

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He said, “Nigeria’s operating environment, while showing meaningful signs of stabilisation, remained demanding for manufacturers in 2025.

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“CAP PLC’s continued emphasis on operational efficiency and cost optimisation drove improved profitability, with operating margins expanding to 18 per cent, from 15 per cent. These results reflect disciplined execution and the trust customers place in the quality of our product portfolio.”

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Underscoring the company’s commitment to accessibility and market penetration, CAP Plc’s outgoing Managing Director, Bolarin Okunowo, highlighted the steps taken to fortify the business against external pressures.

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“In our resolve to deliver exceptional results, we deepened our strategic focus, strengthened our operations, and remained customer-focused. Our retail network grew to 152 stores, up from 135 in 2024, and we expanded our product offering to better serve our customers. Our results underscore our ability to navigate complexity, sustain growth, and position the business to capture emerging opportunities in an evolving economic landscape,” she added.

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At the AGM, shareholders commended leadership for steering the company through a complex operating environment while maintaining strong performance and delivering consistent value.

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Shareholders also approved key governance resolutions, including the formal re-election of Oladele Ajayi to the Board, while Udo Okonjo and Adebolanle Badejo were duly re-elected after retiring by rotation.

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Shareholders also paid tribute to the outgoing Managing Director, Bolarin Okunowo, thanking her for her dedicated service and leadership over the past four and a half years. Similarly, they welcomed Lekan Aluko as the incoming Managing Director and expressed their confidence in his leadership as the Company continues to execute its long-term growth strategy.

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With confidence in its ability to deliver profitable growth, CAP Plc remains focused on expanding its product offerings, increasing its market share and pursuing strategic growth opportunities. The Company will continue to invest in its people, technology and operational capabilities to create long-term value for shareholders, customers, employees and the broader economy.

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Chemical and Allied Products Plc is Nigeria’s leading manufacturer and distributor of paints and coatings, with a proud legacy of over 65 years. As a subsidiary of UAC of Nigeria Plc, CAP Plc focuses exclusively on the production and distribution of premium and standard decorative, industrial, and protective coatings.

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