Zichis Agro proposes 20 kobo dividend, 1-for-1 bonus issue

ZICHIS Agro Allied Industries Plc has announced a final dividend of 20 kobo per 50 kobo ordinary share for the financial year ended December 31, 2025, subject to applicable withholding tax and shareholders’ approval.

In a corporate actions notice announced on March 2 and signed by the Company Secretary, Mr S. O. Itsede, the company disclosed that the proposed dividend will be paid to shareholders whose names appear in the Register of Members at the close of business on March 16, 2026. Payment is scheduled for April 29, 2026, and will be made electronically to eligible shareholders who have completed their e-dividend registration and mandated the registrar to credit their bank accounts directly.

The company also proposed a bonus share issue on the basis of one new share for every one existing share held by shareholders as at the qualification date of March 16, 2026. The bonus issue is subject to shareholders’ approval at the upcoming annual general meeting (AGM).

According to the notice, the Register of Shareholders will be closed from March 17 to March 20, 2026. The AGM is scheduled to hold virtually on April 22, 2026, at 12 noon.

Shareholders who are yet to complete their e-dividend registration have been advised to download the E-Dividend Mandate Activation Form from the website of Datamax Registrars Limited, complete it, and submit it to the registrar or their respective banks.

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Datamax Registrars Limited will serve as registrar for the exercise.

Zichis’ expansion

Meanwhile, Zichis has taken a major step in advancing its long-term growth strategy with the acquisition of 2,000 acres of land in Ogun State to expand its oil palm plantation and processing capacity.

In a notification to the Nigerian Exchange Limited (NGX) last Tuesday, shareholders and the investing public, the company disclosed that it signed land purchase agreements with the communities of Ajebo and Ogbere in Ogun State. The acquisition forms part of the company’s medium- to long-term plan to strengthen its position in Nigeria’s oil palm industry and deepen its footprint across the agricultural value chain.

According to the board of directors, the new land bank will be dedicated primarily to oil palm cultivation, reinforcing the company’s ambition to become a leading player in plantation development and downstream processing. The move is also expected to enhance raw material security for its processing operations, reduce supply chain constraints, and improve overall operational efficiency.

Beyond oil palm production, Zichis Agro Allied Industries Plc said it intends to adopt an inter-cropping strategy in the short- to medium- term by cultivating maize and cassava alongside palm seedlings. The approach is designed to optimise land use during the early growth cycle of the oil palm trees while generating additional revenue streams.

The company noted that the inter-cropping initiative will contribute to national food security efforts by increasing the supply of staple crops such as maize and cassava. It also aligns with its backward integration strategy, enabling the firm to harness operational synergies and strengthen its agricultural ecosystem.

Industry analysts say the acquisition signals growing private sector investment in large-scale agribusiness, particularly in oil palm cultivation, as companies seek to tap into rising domestic demand for palm oil and related products.

With the Ogun expansion, Zichis Agro Allied Industries Plc is positioning itself for sustained growth, improved value addition, and stronger competitiveness within Nigeria’s agricultural landscape.

NGX probes Zichis trading

In a twist last Monday, the Nigerian Exchange Limited (NGX) suspended trading in the shares of Zichis Agro-Allied Industries Plc pending the outcome of a regulatory investigation into recent trading activities.

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In a market bulletin issued to dealing members, the NGX said the suspension took effect from February 23 and would remain in place until the review was concluded.

In a separate investor note, the NGX said it had observed significant price movements in the shares of some listed companies in recent trading sessions, urging investors to predicate investment decisions on publicly available information and a careful assessment of companies’ fundamentals, risk profile and financial performance.