Zichis: Rising despite regulatory speed bump

It has been a wild ride for Zichis Agro-Allied Industries Plc on the Nigerian Exchange Limited (NGX) recently.

Investors are indeed circling the stock, driven by a combination of a massive profit turnaround and the allure of a double reward package. Zichis reported a 478 percent jump in profit for the year 2025.

To reward shareholders for this growth, the board proposed a generous corporate action package: Cash dividend of 20 kobo per share; and Bonus Issue of 1-for-1 (one new share for every one held).

Before now, the stock’s journey has been marked by extreme volatility that triggered regulatory intervention. After listing at N1.81 in January 2026, the price rocketed 772 percent to N17.36 in just one month.

The NGX suspended trading on February 23, 2026, to investigate the extraordinary price movement and protect market integrity. Trading on the stock resumed on March 23, 2026. However, the price was adjusted downward to N8.58 to reflect corrective measures and market realities.

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The current rally toward pre-suspension levels suggests that despite the regulatory speed bump, the market remains highly optimistic about Zichis’ fundamental growth in the agribusiness sector. The stock which had reached N14.14 on April 2 moderated to N14 as at 1.58 pm on Tuesday.

Subject to withholding tax, and on approval the final dividend of 20 kobo per share will be paid to shareholders whose names appear in the share register of members as at the close of business on March 16.

Also, there is bonus shares in the ratio of One (1) new share for every One (1) existing share held by shareholders whose names appear in the Register of Members at the close of business on March 16, subject to the approval of the shareholders at the annual general meeting.

The register of shareholders will be closed from March 17. The qualification date is March 16. The dividend payment will be on May 7 and it will be paid electronically to shareholders whose names appear on the Register of Members as at March 16.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.