NGX Group Declares N299m Interim Dividend Payout

The Nigerian Exchange Group Plc proposed an interim dividend of N299 million, representing 25 kobo per share to shareholders for the first half (H1) of financial year 2023, following the emergency meeting of the Board of Directors.

This dividend, which is the first since the demutualisation of the Nigerian Stock Exchange, will be paid to shareholders whose names appear in the Shareholders’ Register as of close of business on July 31, 2023. 

The Group said: “payment will be remitted electronically to qualified shareholders on August 31, 2023. The dividend announcement comes as a resolution of the Board following the request from shareholders at the recently held Annual General Meeting on July 14, 2023.”

Speaking on the dividend announcement, the chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga said: “the announcement of the dividend will send a signal to our shareholders that the Company has a listening and responsive Board following the request at the last annual general meeting. We hope to continue enjoying the support of our valued shareholders as NGX Group seeks to execute on its strategy to create sustainable growth in the medium to long term.”

The group chief executive officer, NGX Group, Mr Oscar Onyema stated that the proposed payment will not significantly impact the cash position and retained earnings of the company and will further position it as investable for a wider class of investors in the capital market. 

We will continue to focus on maximising value for shareholders just as we champion the development of Africa’s financial markets, he pointed out.