Shareholders of First HoldCo Plc may start receiving dividends again in 2026, following a strong start to the year and improved earnings across its businesses.
The company’s Chief Executive Officer, Wale Oyedeji, gave the assurance at its 14th Annual General Meeting held online on Friday.
He said the group’s performance in the first three months of 2026 was strong enough to support hopes of dividend payments returning, provided the trend continues for the rest of the year.
According to him, regulatory requirements from the Central Bank of Nigeria forced the company to suspend dividend payments in 2025 so it could focus on strengthening its financial position and capital base. Oyedeji explained that the company is also working to raise its share capital to N1 trillion to ensure all its subsidiaries are well funded and stable.
He said this would put the group in a better position to reward shareholders going forward. In the first quarter of 2026, First HoldCo recorded a 72 per cent rise in profit before tax, which increased to N321 billion from N186.47 billion in the same period last year.
The growth was driven mainly by higher income from lending and fees charged on services. Company management described the performance as a recovery phase after recent efforts to strengthen its finances and operations. Oyedeji said the group is focused on maintaining this momentum for the rest of the year while improving returns across all its businesses.
He also said First HoldCo operates as a diversified financial group with interests in banking, asset management, stockbroking and insurance services, which helps it earn money from different sources.
The company is also paying more attention to non-interest income as part of its strategy to grow steadily.
Another key improvement is that the company has reduced its cost-to-income ratio to 45 per cent in 2026, down from about 53–54 per cent in 2025, showing it is spending more efficiently.
Analysts say if the company maintains this performance, shareholders could see dividends return by the end of the year.
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