Shareholders of Chemical and Allied Products Plc (CAP Plc) have approved a final dividend of N4.00 per 50 kobo ordinary share for the 2025 financial year, following a strong earnings performance that saw profit before tax rise by 51 per cent.
The dividend, valued at N3.26 billion, was approved at the company’s 61st Annual General Meeting (AGM) in Lagos. The payout represents a 67 per cent increase from the previous year’s dividend, reflecting the company’s improved financial performance.
The strong results were driven by higher revenue, improved operational efficiency, cost optimisation and an expanded product portfolio.
CAP Plc reported revenue of N44.9 billion in 2025, up 23 per cent from N36.4 billion recorded in 2024. Gross profit increased by 32 per cent to N19.4 billion, while profit before tax climbed 51 per cent to N9.1 billion, compared with N6.1 billion in the previous year.
Fola Aiyesimoju, Chairman of the Board, said the company delivered solid results despite a difficult operating environment for manufacturers.
“Although Nigeria’s operating environment remained demanding for manufacturers in 2025, there were encouraging signs of macroeconomic stabilisation. Our performance reflects the strength of our strategic foundations, disciplined execution and our commitment to delivering sustainable value to shareholders,” he said.
He noted that CAP Plc’s emphasis on operational efficiency and cost control helped improve profitability, with operating margins rising to 18 per cent, from 15 per cent in 2024.
Outgoing Managing Director, Bolarin Okunowo, attributed the company’s performance to its customer-focused growth strategy and expanding market presence.
She said CAP Plc increased its retail network to 152 stores, up from 135 outlets in 2024, while broadening its product range to meet evolving customer needs.
“Our results demonstrate our resilience and ability to navigate a complex business environment while positioning the company for long-term growth,” she said.
Shareholders commended the Board and management for delivering strong financial results despite prevailing economic headwinds.
They also approved key governance resolutions, including the re-election of Oladele Ajayi to the Board, while Udo Okonjo and Adebolanle Badejo were re-elected after retiring by rotation.
The AGM also marked a leadership transition, with shareholders paying tribute to Okunowo for her contributions during her four-and-a-half-year tenure as Managing Director and welcoming Lekan Aluko as her successor.
Shareholders expressed confidence that the new Managing Director would build on the company’s growth momentum and execute its long-term strategy.
Looking ahead, CAP Plc said it will continue expanding its product portfolio, deepen market penetration, invest in technology and operational capabilities, and pursue strategic growth opportunities aimed at creating sustainable value for shareholders, customers and the Nigerian economy.
