- Investors who bought the shares of various companies listed on the Nigerian exchange have a lot to cheer
- There are over 156 public limited companies on the stock exchange are the shares of the companies are traded daily
- MTN, Dangote Cement are some of the most valued listed companies and pays out the highest dividend
In the first five months of 2022, companies listed on the Nigerian Exchange Limited paid out almost N1.1 trillion to shareholders.
The huge dividend payment reflects the exchange's exceptional performance, which is considered one of Africa's best performing marketplaces.
Dangote Cement, MTN Nigeria, and 8 others ranked as the largest dividend-paying firms in terms of total dividends paid, while Nestle, Total Energies Plc, and 8 others emerged as the most in terms of dividend paid per share.
Manufacturers sack over 4,400 staff in one year despite CBN intervention of over N1trn to create jobs
What are dividend payments
Dividend payment is one of the very few ways available for investors to earn a constant stream of income.
PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!
It is also the main reason shareholders hold onto their shares in a company. It, therefore, brings great satisfaction to investors when these companies declare dividends to their shareholders, BusinessDay reports.
Breakdown by sectors
According to corporate action from the NGX website, 57 companies across 11 sectors of quoted companies on Nigerian Exchange Limited have so far paid out N1.107 trillion.
The data further showed that 22 companies emerged from the financial services sector, 9 companies emerged from Consumer Goods and 4 emerged from Industrial Goods.
Furthermore, 4 companies emerged from the Healthcare sector, 3 companies each emerged from the Oil and Gas sector and the ICT sector, 2 companies each emerged from the Conglomerates, Agriculture and Construction sector while one company emerged from the Natural resource sector.
Spectranet, Mainone Sold For N133bn among the List of top Internet Service Providers in Nigeria by Customer
Breakdown of dividend payments by companies
The data showed that Dangote Cement in the Industrial Goods sector recorded N340.8 billion; MTN Nigeria Communications in the ICT sector posted N174.4 billion; BUA Cement in the Industrial Goods sector posted N88 billion; Zenith Bank Plc in the Financial Services sector recorded N87.9 billion while
On the other hand, Nestle Nigeria Plc topped the highest companies in terms of dividend per share with N25.50 per share. Dangote Cement Plc posted about N20 per share while Total Energies, Airtel Africa, MTN Nigeria, Okomu Oil, Presco Plc, BUA Foods Plc, Zenith Bank and GTCO followed in order.
Zenith, Gtbank lead list of Nigeria's most valuable banks
Meanwhile Legit.ng in an earlier report revealed that Zenith Bank is starting 2022 as the most valuable commercial bank in Nigeria as the total value of Nigerian banks closed at N194.5 billion.
In second-most valuable bank is Guaranty Trust Bank followed by Stanbic IBTC Holdings to complete the top three most valuable banks.
Also, the aggregate market cap of all the banks under review went up by N46.6 billion to stand at N3.84 trillion.