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May & Baker Declares N690.09m Dividend as Profit Soars 69% in 2024

The Business NG

The BusinessNG

Shareholders of May & Baker Nigeria Plc have approved a total dividend payout of N690.09 million for the financial year ended December 31, 2024.

The resolution was passed at the company's 74th Annual General Meeting (AGM) held Thursday in Lagos. The dividend translates to 40 kobo per 50 kobo share, subject to withholding tax, and applies to shareholders on the register as of May 20, 2025.

Speaking at the AGM, Chairman of the Board, Senator Daisy Danjuma, described 2024 as a turbulent year for businesses, citing macroeconomic pressures including currency devaluation that saw the naira close at N1,615/$. Despite this, the pharmaceutical giant delivered strong results.

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