Honeywell Flour Mills Plc has returned to the dividend register after a one-year gap, with its board recommending a payout of ₦1.59 billion, or 20 kobo per ordinary share of 50 kobo each, for the financial year ended March 31, 2026.
The recommendation, drawn from the company’s audited financial statements filed with the Nigerian Exchange Limited (NGX), follows a year in which the flour and pasta maker grew profit after tax by 13 percent to ₦16.49 billion, up from ₦14.59 billion in the prior year. The improvement came despite a 3.4 percent dip in revenue, to ₦360.85 billion from ₦373.51 billion, amid softer sales performance across its product portfolio.
Gross profit climbed 13 percent to ₦36.43 billion, lifting gross margin to 10.1 percent from 8.6 percent. Operating profit, however, fell 8.3 percent to ₦16.58 billion, pressured by a jump in selling and distribution costs to ₦11.38 billion from ₦4.58 billion, reflecting higher logistics and route-to-market spending. Administrative expenses eased to ₦9.97 billion from ₦12.28 billion, partly offsetting the distribution cost pressure.
The strongest driver of earnings growth was a 28 percent reduction in finance costs, to ₦3.9 billion from ₦5.43 billion, alongside a rise in finance income to ₦9.22 billion from ₦8.54 billion. Profit before tax rose 3.3 percent to ₦21.9 billion, while tax expense declined to ₦5.41 billion from ₦6.61 billion.
Honeywell Flour Mills’ balance sheet also strengthened over the period. Total assets grew 29 percent to ₦216.71 billion, shareholders’ funds rose 44 percent to ₦53.93 billion, and retained earnings climbed to ₦24.12 billion from ₦7.63 billion. Cash and cash equivalents nearly doubled to ₦9.81 billion, while current borrowings fell to ₦5.46 billion.
The dividend timetable lists a record date of August 28, 2026, with the stock going ex-dividend on August 31, 2026, and payment due September 17, 2026, according to AfricanFinancials.
Shares of Honeywell Flour Mills (NGX: HONYFLOUR) closed at ₦16.85 on July 15, 2026, up 0.90 percent on the day, having shed 16.9 percent of its value since the start of the year from an opening price of ₦21.90.
