Zichis Agro-allied Industries rewards shareholders with N0.05 dividend
Amid its impressive performance, the management of Zichis Agro-allied Industries Plc, on Wednesday rewarded shareholders with N0.05 per share dividend for financial year ended December 31, 2024
The shareholders of the company at the 2nd Annual General Meeting (AGM) approved the dividend of N0.05kobo per share with an option for script shares in lieu for who elect to opt for script shares.
At the AGM, the company announced plans to list its shares on the Nigerian Exchange Limited (NGX), revealing that the Securities and Exchange Commission (SEC) has registered its securities for public trading.
The Agro-allied company in financial year ended December 31, 2024 declared turnover of N289million, about 119 per cent increase over N132 million recorded in 2023.. the company, however, closed 2024 with a profit of N56.7 million, about 238 per cent increase when compared to N16.8 million in 2023.
Speaking at the company’s AGM in Lagos, the Chairman of Zichis Agro-allied Industries, Mr. Hezekiah Oshaba expressed that the company in 2024 was able to navigate headwinds and recorded a significant increase in turnover that impacted on profit.
According to him, the revenue from oil palm products in 2024 was modest at N14.28 million and it is expected to significantly contribute massively to the company’s topline and profit substantially in years to come.
He revealed that the Egg production sales grew by 206 per cent from N50.59 million in 2023 to N154.69 million in 2024, while Chicken poultry sales grew moderately by 27 per cent as fish sales dropped by 52 per cent from N48million in 2023 to N23 million in 2024.
On outlook, he said, “As we look to the future, we remain committed to purposeful expansion and sustainable growth. In 2025 and 2026, on the main business lines of the company, it will continue to expand its egg layers unit and point of lay chicken breeding program, expand its feedmill plant capacity from 2 tons per hour to 5 tons per hour.
“The company will expand the oil palm estates in phases by planting up to 440 acres of oil palm trees to achieve a total of 1,000 acres by 2030., with further plans to roll out more in the future.”
Speaking also, the Managing Director, Zichis Agro-allied Industries, Anthonia Akabusi stated that the company has positioned itself as a forward- thinking, diversified agribusiness with strong potential for exponential growth through vertical integration and operational excellence.
She highlighted key achievements across the company’s portfolio that include poultry, palm estate & refinery, feed mill and aquacultur.
On poultry, she said, “With a current capacity of 20,000 birds, we are on track to scale up to 100,000 by Q4 2026, projecting over N500 million in monthly revenue from egg production.
“Palm Estate & Refinery: Our 61-acre estate is yielding strong returns, with expansion plans to 500 acres by 2030. By 2026, our oil milling plant will commence operations, driving a projected turnover of N4.8 billion annually. Our long-term refinery plans will further strengthen our leadership in edible oils.
“Feed Mill: Expansion from 2 tons to 5 tons per hour will enhance efficiency, reduce costs, and create additional revenue streams.
“Aquaculture: With 20 ponds currently in production and a roadmap to 50 ponds, we are building a robust business line that is projected to contribute significantly from 2026 onwards,” she said.
She expressed that the 2024 performance was not by chance as they reflect deliberate strategy, disciplined execution, and a commitment to long-term value creation.
“As we prepare for our listing on the Nigerian Exchange (NGX), we reaffirm our pledge to transparency, good governance, and shareholder value.
“Looking ahead, we will continue to strengthen our workforce, deepen farmer partnerships, and invest in sustainable innovations that guarantee food security and economic impact for Nigeria,” Akabusi said to shareholders.
She added that the future of Zichis Agro Allied Industries is bright, calling on shareholders for support as the management is poised to build not just a company but a lasting legacy of agricultural excellence for generations to come.
