… to pay N1.2 billion dividends
Food Concepts Plc, the parent company of Chicken Republic, posted a net income of N3.31 billion for the 2024 financial year. This represents a 780 percent surge from the N377 million recorded in 2023.
As part of the returns to its shareholders, the group is proposing a 4 kobo per share dividend payment. This represents a N1.2 billion dividend payout for FY 2024, also representing a 35 percent dividend payout for FY 2024
The group, which also operates PieExpress and The ChopBox, generated N95.3 billion in revenue during the year, marking a 44 percent increase from N66.2 billion in 2023. Notably, franchise royalties and related income contributed approximately N523 million to the topline, reflecting growing traction in its partner-led expansion model.
