Fidson, led by Fidelis Ayebae, declares $1.49 million dividend for shareholders

Key Points

• Fidson Healthcare boosts its final dividend by 66.67%, rewarding shareholders after a strong 2024 financial performance.
• The company’s profit surged 40% to N5.05 billion ($3.41 million), fueled by rising demand for ethical and OTC drugs.
• Fidelis Ayebae leads a $100 million expansion, reinforcing Fidson’s position as a key player in Nigeria’s pharmaceutical sector.

Fidson Healthcare Plc, a prominent Lagos-based pharmaceutical manufacturer founded by Nigerian mogul Fidelis Ayebae, is set to reward its shareholders with a final dividend payout of $1.49 million for the 2024 fiscal year.

The payout reflects the pharmaceutical group’s focus on rewarding investors following an impressive financial performance in 2024, driven by higher demand for ethical products, including infusions, capsules, and tablets. 

The company increased its final dividend by 66.67 percent, bringing it to N1 ($0.0007) per share. This amounts to a total payout of N2.29 billion ($1.49 million), compared to N1.38 billion ($0.9 million) the previous year, when the dividend stood at N0.60 per share.

The dividend is still subject to shareholder approval at the upcoming AGM and will be paid from the profits earned in the year ending Dec. 31, 2024.

Fidson’s profit jumps nearly 40% in 2024

Fidson posted impressive results for 2024, with a nearly 40 percent increase in profit—from N3.61 billion ($2.44 million) in 2023 to N5.05 billion ($3.41 million).

This performance was driven by a 58.7 percent surge in revenue, which grew from N53.05 billion ($35.82 million) to N84.19 billion ($56.84 million), particularly thanks to the higher sales of ethical drugs.

Revenue from ethical products alone jumped significantly to N55 billion ($37.14 million), up from N32.59 billion ($22 million). Over-the-counter (OTC) drug sales also saw a notable increase, rising to N26.38 billion ($17.81 million) from N15.88 billion ($10.72 million).

Ayebae poised for major dividend gain

Under Ayebae’s leadership, Fidson has made remarkable strides since its founding in 1995. Today, Ayebae, who holds a 33.1 percent stake in the company, ranks among Nigeria’s leading investors. He’s poised to receive close to half a million dollars in dividends, cementing his position as a key figure in the country’s pharmaceutical industry.

Fidson’s long-standing focus on healthcare innovation was underscored in 2005 when it became West Africa’s first producer of antiretroviral (ARV) drugs. Now, with a $100 million investment in a new state-of-the-art facility at the Lekki Free Trade Zone, Fidson aims to enhance Nigeria’s healthcare self-sufficiency, particularly in the fight against HIV.

By the close of 2024, Fidson’s total assets grew from N61.99 billion ($41.85 million) to N73.3 billion ($49.49 million), while total equity rose to N22.99 billion ($15.52 million). These impressive figures reinforce Fidson’s standing as a leader in Nigeria’s competitive pharmaceutical sector.