Access Holdings Shareholders Await Dividends and a Share-Price Turnaround

Access Holdings shares have barely moved in more than two years, rising from about ₦26.55 in January 2024 to ₦27.40 on 12 August 2026. The group has also not paid a dividend since the 2024 financial year, leaving many investors worried about when returns will improve. Despite having ₦53.4 trillion in assets, Access Holdings has a market value of about ₦1.49 trillion. That is below UBA, GTCO, Zenith Bank and FirstHoldCo. Its price-to-book ratio of 0.37x suggests investors remain cautious about profitability, credit losses and the risks of managing its wide international expansion. The bank faces further pressure from proposed CBN rules that would limit foreign investments to 10% of shareholders’ funds. Analysts estimate Access could need to raise as much as ₦656.04 billion under the proposed framework. The group is also considering divesting stakes in selected foreign subsidiaries to meet regulatory requirements. Although full-year 2025 and first-quarter 2026 profits increased, impairment charges rose sharply and comprehensive income fell. Shareholders who were promised a stronger dividend outlook after the group’s investment phase are now waiting to see whether the expected turnaround will finally deliver higher share value and dividend payments.

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