Eterna Shareholders Approve 50 Kobo Dividend, Renew Related Party Transaction Mandate
Shareholders of Eterna Plc have approved a dividend payment of 50 Kobo per ordinary share for the 2025 financial year following the conclusion of the company’s 33rd Annual General Meeting held virtually on Tuesday, May 12, 2026.
In a corporate filing signed by the Company Secretary and Legal Adviser, David Edet, the company said the dividend would be paid to shareholders whose names appeared in the Register of Members as of the close of business on April 13, 2026.
The shareholders also approved the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the auditors and the audit committee.
At the meeting, shareholders re-elected Barrister Okechukwu Omezi and Mr. Anibor Kragha as directors of the company.
PricewaterhouseCoopers was re-appointed as the independent auditor of the company for the 2026 financial year, while the board was authorised to determine the remuneration of the auditors.
Shareholders equally re-elected Engr. M.O.T Olayiwola Tobun, Mrs. Odusote Anike Olatubosun and Mr. Omokayode O. Adekunle as shareholder representatives on the statutory audit committee.
They will serve alongside Mr. Emmanuel Omuojine and Mr. Anibor Kragha, who represent the board on the committee, until the conclusion of the next annual general meeting.
The company also disclosed that the remuneration of its managers was presented in compliance with Section 257 of the Companies and Allied Matters Act 2020.
In addition, shareholders renewed the company’s general mandate for recurrent transactions with related parties or interested persons in line with Rule 20.8(a) of the Nigerian Exchange Limited rules governing related party transactions.
The renewed mandate covers revenue or trading-related transactions considered necessary for the company’s day-to-day operations.
The resolutions reinforce Eterna’s corporate governance structure while maintaining operational flexibility for routine commercial transactions as the downstream oil and gas company continues to navigate Nigeria’s evolving energy market.
