NAHCO proposes bonus shares, N6.25 dividend for investors

By Abubakar Yunusa

The board of Nigerian Aviation Handling Company Plc has proposed a one-for-seven bonus share issue for shareholders ahead of its Annual General Meeting scheduled for May 15, 2026, in Lagos.
The company disclosed this in a notice issued to shareholders ahead of the meeting, where investors are also expected to approve a cash dividend of N6.25 per share.
Under the proposal, shareholders will receive one new share for every seven shares currently held, subject to approval at the AGM.
The company said the move was aimed at rewarding investors following its strong financial performance in recent periods.
NAHCO stated that it planned to create 278,437,500 new ordinary shares of 50 kobo each to facilitate the proposed bonus issue.
According to the notice, the additional shares would rank equally with existing shares and would be distributed to shareholders whose names appeared in the company’s register as of May 1, 2026.
The firm said its share capital would increase from N974.53m, comprising 1.95 billion ordinary shares, to N1.11bn, made up of 2.23 billion ordinary shares.
It added that N139.22m would be transferred from the company’s retained earnings or reserve accounts to the share capital account to finance the allotment of the bonus shares.
“The shares distributed shall rank pari-passu with the existing shares in all respects and will be treated for all purposes as capital and not as income,” the notice stated.
If approved, the bonus shares will be issued to shareholders qualified as of the announced qualification date.