Investors in the nation’s capital market have earned over N700 billion from dividend payout by companies listed on Nigerian Exchange (NGX) Limited.
Available report showed that 58 companies across 10 sectors of quoted companies on The Exchange have paid out N732,915,168,509.29.
The broke down of the dividend payout showed that financial services has 21 companies, consumer goods followed with seven, industrial goods came third with six companies. Others are oil & gas five, healthcare four services four, ICT three, natural resources two, construction/real estate two, agriculture two and conglomerates two.
The report indicated that Dangote Cement made the highest dividend payout recording N272. 648 billion, followed by MTN Nigeria Communication with payment of N92. 613 billion, Guaranty Trust Holding Company accounted for N79.464 billion, BUA Cement Plc paid a total of N69.997 billion while Stanbic IBTC holdings paid N46.645 billion.
Further break down of dividend payment by sectors showed that the financial sector has the highest number of companies paying dividend and value of dividend, with GTCO leading the pack at a payout valued at N79.46 billion. In the consumer goods sector, Nestle leads amongst the seven companies with a payout of N28.12 billion. Fidson leads the healthcare sector with payout of N521.59 million.
Speaking on the development, the Chief Executive Officer, NGX, Mr. Temi Popoola, said “The delivery of X-Mobile is in line with NGX’s strategic intent to provide an exchange that is easily accessible to stakeholders leveraging digital technology.