MTN Nigeria Communications Plc, Dangote Cement Plc, GTCO Plc, and 55 other companies cut across ten sectors of quoted companies on the bourse, have paid to their investors N733 billion as dividends this year.
This was contained in a statement released by the Nigerian Exchange (NGX) on Monday.
The breakdown is as follows: Financial services (21), consumer goods (7), industrial goods (6), oil & gas (5), healthcare (4), services (4), ICT (3), natural resources (2), construction/real estate (2), agriculture (2) and conglomerates (2).
The NGX stated that, “Overall, Dangote Cement made the highest dividend payout, followed by MTN, GTCO, BUA Cement and Stanbic IBTC as the top five highest dividend payments so far.”
The financial sector has the highest number of companies paying dividends and value of dividends as GTCO led the pack with a payout valued at N79.46 billion.
Nestle leads in the consumer goods sector amongst the seven companies with a pay-out of N28.12b.
Fidson leads the healthcare sector with a pay-out of N521.59 million.
Total Nigeria takes the lead in oil & gas at N2.06 billion; UACN leads the conglomerates with N3.45 billion.
Dangote Cement Plc leads with N272.65b in the industrial goods sector.
MTN Nigeria takes the centre stage in the ICT sector, with N92.61 billion, while Caverton takes the lead in services with N335.05 million; and Okomu leads in the agriculture sector with N6.67 billion.
Dividends are a company’s way of sharing its profits with investors who retain the organisation’s stocks over a holding period up to a qualifying date.