Geregu Power Plc strengthened its shareholders’ equity position in the 2025 financial year, supported by sustained profitability and disciplined capital management, according to its audited Statement of Changes in Equity for the year ended 31 December 2025.
The power generation company closed the year with total equity of ₦58.63 billion, up from ₦52.56 billion at the end of 2024, reflecting higher retained earnings and improved actuarial reserves.
This was contained in the company’s financial statements released on Monday.
News.ng reports that at the start of 2025, Geregu Power reported opening equity of ₦52.56 billion, comprising ₦1.25 billion in share capital, ₦51.34 billion in retained earnings, and a negative ₦29.41 million actuarial reserve.
During the year, the company posted a profit after tax of ₦27.25 billion, which flowed directly into retained earnings. In addition, a positive actuarial remeasurement of ₦62.58 million boosted reserves, lifting total comprehensive income to ₦27.31 billion for the year.
As a result, retained earnings rose to ₦57.34 billion, while actuarial reserves swung into a positive balance of ₦33.17 million by year-end.
According to the statement, Geregu Power also maintained an active dividend policy, paying ₦21.25 billion to shareholders in 2025, following a ₦20 billion dividend distribution in 2024. The payout reflects management’s confidence in the company’s cash generation capacity, even as it continues to invest in power generation assets.
Despite the sizable dividend, the company still recorded a net increase in equity, underlining the strength of its earnings profile.
Share capital remained unchanged at ₦1.25 billion, indicating no dilution or new equity issuance during the year. This stability suggests the company continues to rely on internally generated funds and debt instruments, rather than fresh equity, to support its operations and expansion plans.
For capital market watchers, the rising equity base, consistent profitability, and strong dividend payments reinforce Geregu Power Plc’s appeal as a dividend-yielding stock in Nigeria’s energy sector. Analysts note that the company’s ability to grow retained earnings while sustaining high payouts positions it favourably among listed power companies, particularly amid ongoing reforms in Nigeria’s electricity market.
The financial statements form part of Geregu Power Plc’s audited annual report, approved by the Board of Directors in January 2026.
