Red Star Express Plc has approved a 45 kobo dividend per share for shareholders following its 33rd Annual General Meeting held virtually on September 17, 2026.
The company said shareholders approved its audited financial statements for the year ended March 31, 2026, alongside the reports of the Directors and Audit Committee.
Shareholders also re-elected Peter Surulere Aletor and Chukwuemeka Ndu as Non-Executive Directors.
The meeting approved the reappointment of KPMG as the company’s external auditor, with the Board authorized to determine the auditor’s remuneration.
Three shareholders : Folorunso Olajide, Kolawole Ganiyu Amoo and Adetunji Bukola Rebecca, were elected as shareholders’ representatives on the Statutory Audit Committee. The Board representatives are Sulaiman Koguna and Chukwuemeka Ndu.
The remuneration of Red Star Express’ Non-Executive Directors for the financial year ending March 31, 2027 was also fixed at ₦11 million each.
In addition, shareholders approved a General Mandate for related-party transactions covering recurrent transactions required for the company’s day-to-day operations, including the procurement of goods and services. The transactions are to be conducted on normal commercial terms and the mandate will remain in place until the next Annual General Meeting.
The 45 kobo dividend provides a direct return to shareholders following the company’s 2026 financial year.
The AGM resolutions also confirm the continuation of the company’s existing board and audit arrangements, while giving management authority to carry out routine related-party transactions under the approved mandate.
Watch next: Investors will be watching for the dividend qualification and payment dates, as well as Red Star Express’ financial performance in the new financial year.
