NGX yields N1.107tr with Nestle and Dangote Cement paying the highest
By Jeph Ajobaju, Chief Copy Editor
Capital market investors have earned N1.107 trillion from dividend payout by companies listed on the Nigerian Exchange (NGX) in the past year.
Year-to-date, Dangote Cement, MTN Nigeria and eight others paid the highest total dividends; and Nestle, Total Energies, and eight others paid the highest dividends per share, the NGX said.
It explained in a statement that dividend payment is one of the very few ways available for investors to earn a constant stream of income.
“It is also the main reason shareholders hold onto their shares in a company. It, therefore, brings great satisfaction to investors when these companies declare dividends to their shareholders,” the statement said.
The NGX added in its corporate action section on its website that 57 companies across 11 sectors of companies quoted on the NGX have so far paid out N1.107 trillion.
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Sectoral data
The data showed that 22 companies emerged from the Financial Services sector, nine from Consumer Goods, and four from Industrial Goods.
Four companies emerged from the Healthcare sector, three each from Oil and Gas, and ICT; two each from Conglomerates, Agriculture and Construction, and one from Natural Resource, according to reporting by Nairametrics.
- Dangote Cement in the Industrial Goods sector recorded N340.8 billion
- MTN Nigeria Communications in the ICT sector posted N174.4 billion
- BUA Cement in the Industrial Goods sector had N88 billion
- Zenith Bank in the Financial Services sector recorded N87.9 billion
Nestle Nigeria topped the highest companies in terms of dividend per share with N25.50 per share.
Dangote Cement posted about N20 per share, followed in descending order by Total Energies, Airtel Africa, MTN Nigeria, Okomu Oil, Presco Plc, BUA Foods Plc, Zenith Bank, and GTCO.