NGX Group Proposes N4.4bn Dividend, N13.5bn PBT

The Nigerian Exchange Group Plc has proposed a dividend payment of N4.4 billion as its profit before tax (PBT) representing 157.6 percentage growth rose to N13.5billion in its 2024 financial reports.

The board approved a final dividend of N4.4 billion, translating to N2.00 per share, the highest dividend payout in the Group’s history as this decision reaffirms NGX Group’s commitment to delivering value to shareholders while maintaining a strong capital position.

The results revealed that pre-tax profit grew by 157.6 per cent to N13.581 billion, as this strong performance was driven by robust revenue expansion, strategic cost optimisation, and increased market participation, reflecting the Group’s resilience and financial strength.

The Group’s gross earnings surged by 103.2 per cent to N24.0 billion in full year 2024, up from N11.8 billion in the previous year, propelled by significant growth across key revenue streams: transaction fees rose 64.0 per cent, driven by heightened market activity; while listing fees increased by 397.1 per cent, reflecting stronger capital market participation.

Technology related income grew by 105 per cent, other fees recorded a 174.8 per cent, while treasury investment income climbed 45.6 per cent.

Speaking on the results, group chairman, NGX Group, Alhaji Umaru Kwairanga stated that, “these results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision. The approval of a record N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning “NGX Group as a key driver of capital market development. As we continue to invest in market infrastructure and innovation, we remain focused on creating sustainable value for all stakeholders.”

He noted that, “the NGX Group under my leadership is focused on harnessing the entrepreneurial and innovative spirit of Nigeria’s private sector to drive the economy to greater heights.”

Kwairanga said, the launch of NGX Invest, which has facilitated N1.845 trillion in capital raises for the banking sector, enhances liquidity and investor participation.

Group managing director/chief executive officer, NGX Group, Temi Popoola stated that, “NGX Group’s remarkable performance in 2024 reflects our strategic focus on execution, operational excellence, and innovation. The 157.3 per cent increase in profit before tax underscores the strength of our execution strategy and the dedication of our team.

“By leveraging technology, expanding market data solutions, and strengthening our partnerships, we have built a more resilient and diversified business model that positions us for sustained growth.”

NGX Group stated that “with a solid capital base, strong revenue diversification, and a commitment to innovation, we remain well-positioned to drive capital market development in Nigeria and across Africa. By continuously enhancing market infrastructure, expanding investment opportunities, and fostering financial inclusion, NGX Group is reinforcing its role as a key enabler of economic growth and prosperity.”