Shareholders of Aradel Holdings Plc have approved a final dividend of N23 per ordinary share for the 2025 financial year as the indigenous energy company concluded its 31st Annual General Meeting (AGM).
The dividend was among several resolutions approved by shareholders at the meeting held virtually on Thursday, July 30, 2026 following the presentation of the company’s audited financial statements for the year ended December 31, 2025.
According to the resolutions passed at the AGM, the N23 per share dividend will be paid to shareholders whose names appeared in the company’s Register of Members at the close of business on Friday, July 10, 2026.
Shareholders also approved the re-election of four directors who retired by rotation. They are Augustine Olorunsola, Chairman; Adegbite Falade, Chief Executive Officer; Adegbola Adesina, Chief Financial Officer; and Kerin Gunter, Non-Executive Director.
The meeting also ratified the appointments of Olusola Adeeyo and George Osahon as Non-Executive Directors, while Mahmud Tukur and Nnoli Akpedeye were confirmed as Independent Non-Executive Directors.
In another major corporate governance decision, shareholders approved the appointment of KPMG Professional Services as the company’s external auditor for the financial year ending December 31, 2026.
KPMG will replace Deloitte & Touche, which retired as Aradel Holdings’ auditor. The company’s directors were authorised to determine KPMG’s remuneration and expenses for the 2026 financial year.
Shareholders also approved the composition of the company’s Statutory Audit Committee for 2026. The committee comprises shareholder representatives Femi Akinsanya, Eddie Efekoha and Gbola Akinola, SAN, alongside Non-Executive Directors Afolabi Oladele and Patricia Simon-Hart.
The AGM further approved severance benefits for the company’s Non-Executive Directors, including those who retired during the 2025 calendar year.
Under the approved structure, the Chairman will receive an annual fee of $68,750 multiplied by the number of years served on the Board, alongside annual medical insurance coverage for up to five years after retirement, subject to an annual limit of $16,700.
Other Non-Executive Directors will receive $40,500 for each year served on the Board, as well as annual medical insurance coverage for a maximum of five years after retirement, capped at $14,500 annually.
The resolutions followed shareholders’ consideration of Aradel Holdings’ audited financial statements for 2025 as well as reports from the directors, external auditors and Audit Committee.
The AGM outcome comes as Aradel continues to expand its operations. In its recently released unaudited results for the six months ended June 30, 2026, the Group reported revenue of N2.49 trillion and profit after tax of N191.04 billion.
