29 Companies Declare N2.5trn Final Dividends For 2025

Shareholders in Nigeria’s capital market are set for a bumper payout as 29 companies proposed a combined N2.512 trillion in final dividends for the 2025 financial year.

The declarations span banking, consumer goods, industrials, and energy, underscoring improved corporate earnings and cash positions despite macroeconomic headwinds.

For many investors, dividend-yielding stocks are a key strategy for passive income. Dividends are profits distributed by companies to shareholders in various forms, such as cash, stock, or assets, often based on the company’s profitability.

For the year ended December 31, 2025, Dangote Cement’s board of directors proposed a final dividend of N759.33 billion, representing N45.00 per share.

Guaranty Trust Holding Company (GTCO) declared a final dividend of N11.76 per share, amounting to N428.36 billion; while Zenith Bank proposed a final dividend of N359.36 billion, representing N8.75 per share.

BUA Cement to pay a final dividend of N10.00 per share, amounting to N338.64 billion; while MTN Nigeria Communications (MTNN) declared a final dividend of N314.94 billion or N15 per share.

Geregu Power (N22.5 billion), Transcorp Power (N30 billion), Infinity Trust Mortgage Bank (N1.46 billion), Lafarge Africa (N96.648 billion), Transnational Corporation (N16.26 billion), MeCure Industries (N1.4 billion), Africa Prudential (N1.6 billion), Nigerian Exchange Group (N3.928 billion), Zichis Agro Allied Industries (N120 million), Haldane McCall (N156 million), United Capital (N12.6 billion), NASCON Allied Industries (N16.212 billion), CWG (N1.768 billion), CAP (N3.259 billion), Eterna (N652 million), ABC Transport (N144 million), McNichols Consolidated (67 million), AIICO Insurance (N4.393 billion), Custodian Investment (N14.705 billion), Wema Bank (N50.15 billion), Beta Glass (N4.320 billion), NEM Insurance (N7.524 billion), Julius Berger (N6.8 billion), and Okomu Oil (N14.309 billion).

Analysts noted that Nigerian investors are motivated by more than just the potential appreciation of share prices; they are also drawn to the steady income dividends provide, saying that strong payouts tend to boost investor confidence, attract income-focused buyers, and in some cases, propel a company into the premium ranks of the exchange.

They noted that the likes of Dangote Cement, among others, have proven to remain key fundamental stocks on the bourse.

The managing director of APT Securities and Funds Limited, Mallam Garba Kurfi, stated that the investing community is delighted by the dividends declared so far, noting that the companies have increased the dividends declared compared to the previous year.

The vice-chairman of Highcap Securities Limited, David Adonri, noted that many of the Companies released dividends are indeed quite impressive.

Adonri noted that overall performance has been rewarding for both the market and investors, suggesting a positive outlook for the future.

Speaking on Dangote Cement performance for 2025, the chief executive of the Company, Arvind Pathak said “2025 was a landmark year for Dangote Cement as we delivered exceptional financial performance that underscores the strength of our business model and the effectiveness of our strategic initiatives.”

The Group chief executive officer of Guaranty Trust Holding Company (GTCO), Segun Agbaje, said the performance highlighted the resilience of the Group’s earnings base.

“Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses,” he said.

Agbaje noted that the strength of the Group’s underlying earnings, despite a stronger naira and tighter regulatory conditions, reflected the quality of its franchise and disciplined execution of its strategy.

“The strength of our underlying earnings, despite a stronger naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns,” he added.

He also highlighted the Group’s dividend payout, describing it as a reflection of both current profitability and confidence in long-term earnings prospects. “Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential,” Agbaje said.