Investors Receive Over N732bn in Dividends From 58 Companies

Investors Receive Over N732bn in Dividends From 58 Companies

Investors have received over N732 billion from dividend payout by 58 companies across 10 sectors listed on Nigerian Exchange Limited (NGX) in nine months.

A breakdown of the N732.91 billion dividend paid so far by listed firms on the exchange showed that out of the 58 companies, 21 emerged from the financial services sector, while seven stocks from the consumer goods sector contributed to the overall dividend payout. Six firms from the industrial goods sector made up the 58 companies, while five companies from oil & gas contributed to the figure.

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According to the latest data from the exchange, four firms emerged from the healthcare and services sectors each, while three firms from the ICT made up the 58 companies. Also, two firms each, under the natural resources, construction/real estate, agriculture, and conglomerates sectors were among the 58 companies.

The financial sector constituted the highest number of companies paying dividends as GTCO led with a payout valued at N79.46 billion, while Nestle led the seven companies in the consumer goods sector with N28.12 billion. Fidson led the healthcare sector with N521.59 million. Total Nigeria took the lead in the oil & gas sector with an N2.06 billion payout.

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Others include UACN, which led the conglomerates with N3.45 billion. In the industrial goods sector, Dangote Cement Plc emerged the highest in dividend payment in the sector with N272.65 billion. MTN Nigeria led others in the ICT sector with N92.61 billion.

Caverton took the lead in the services sector with N335.05 million, while Okomu led the agriculture sector with N6.67 billion. Overall, Dangote Cement paid the highest dividend payout, while MTN, GTCO, BUA Cement, and Stanbic IBTC followed on the list.

Meanwhile, following losses suffered by most blue-chip stocks, especially SCOA and Academy Press, the Nigeria Exchange Limited (NGX) reopened on a downward note yesterday, as market capitalization declined by N3 billion.

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Yesterday, the All-Share Index depreciated by 6.16 points or 0.01 percent to close at 38,915.62 from 38, 921.78 at which it opened for transaction on Monday.

Also, market capitalization declined by N3 billion from N20.278 trillion to N20. 275 trillion. On the price movement chart, 20 stocks depreciated in price while 18 constituted the gainers’ chart. Scoa topped the losers’ chart with 10 percent to close at N1.17 kobo while Academy Press followed with 7.69 percent to close at 36 kobos.

Morison topped the gainers’ chart with 9.38 percent to close at N2.10 kobo. Linkage Assurance followed with 5.26 percent to close at 60 kobos.

Investors Receive Over N732bn in Dividends From 58 Companies

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