Transcorp Power, in the first six months of 2026, has disclosed that shareholders of the power-generating company will receive N11.2 billion as dividends, despite reporting a 12 percent decline in profit.
The company, in a corporate action announcement dated July 17, said an Interim dividend of One Naira and Fifty Kobo (N1.50) per ordinary share, subject to appropriate withholding tax deduction and approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Monday, July 20, 2026.
The dividend declaration came as Transcorp Power reported revenue of N181.97 billion for the first half of 2026, down from N205.81 billion in the corresponding period of 2025, while profit before tax fell to N54.99 billion from N58.73 billion.
Net profit fell nearly twice as fast, down 12.6 percent to N38.50 billion, as finance costs more than tripled to N1.36 billion, and other gains turned negative to N633 million from a positive N2.16 billion reported in the same period of last year.
Peter Ikenga, the company’s CEO, stated that “Our H1 2026 performance is a reflection of the resilience of our business operations despite significant sector-wide existential challenges. Regrettably, recurring transmission line vandalisation materially constrained our ability to evacuate available generation capacity.
