ABUJA – Transnational Corporation Plc, a leading Nigerian conglomerate, has announced the approval of a full dividend of N1.00 per share for its shareholders.

This decision was made, Wednesday after a majority of shareholders supported the recommendation at the company’s 19th Annual General Meeting in Abuja.

The dividend includes an interim payment of 40 kobo and a final payment of 60 kobo per share, totaling N10,161,997,573.23.

Tony Elumelu, the Chairman, Board of Directors, expressed satisfaction with the company’s performance, highlighting its commitment to delivering long-term value to shareholders.

He emphasized the need to address Nigeria’s power sector challenges, noting that Transcorp Power is owed over $400 million (approximately N600 billion).

Elumelu stressed that resolving these financial hurdles is crucial for achieving reliable electricity supply and supporting President Tinubu’s renewable energy agenda.

Elumelu also highlighted the company’s achievements, including the successful listing of Transcorp Power Plc on the Nigerian Exchange.

He emphasized the importance of electricity for economic growth and urged stakeholders to implement the President’s directives to resolve power sector issues, stressing that Transcorp Group is interested in renewable energy and believes it is essential for Nigeria’s development.