Transcorp power, recently listed on NGX has announced a dividend growth of N3.13 per share.

According to the report, the Nigerian Exchange Limited, the second power company to be listed on the exchange said that its topline grew by 57.03 percent and profit by 75 percent.

Transcorp Power, is one of the power subsidiaries of Nigeria’s leading listed conglomerate, having reported gross earnings of N142.1bn for 2023, marking an increase of 57.30 percent from N90.34bn in 2022.

Profit before tax showed similar growth, as it jumped by 84.61 percent to N52.8bn, from N28.6bn.

Also speaking, Peter Ikenga, the Managing Director/Chief Executive Officer of Transcorp Power, attributed the substantial growth to the company’s strong operational capabilities and effective business strategies.

“We are proud of the significant progress we have made in delivering value to our shareholders and other stakeholders. This performance is a testament to the dedication and hard work of our team, as well as our focus on operational efficiency and ingenuity,” Ikenga stated.

Transcorp Power continues to deliver significant returns to its investors, reiterated its position as a leading player in the power sector, also earning N92.25 per share.

March 4, 2024, Transcorp power was listed on the main board of the Nigerian Exchange Limited.