As 22 Firms Declare Dividend, Shareholders Pocket N264bn
Shareholders of the 22 companies on the Nigerian Stock Exchange have so far received a total of N231 billion as dividend payout for the full year result ended 2017, Daily Trust learnt.
So far, the biggest beneficiaries are Dangote cement shareholders who received N10.50 kobo for each of its 17 billion shares which rounded up to N179 billion in total dividend payment for the period under review. These account for 68 per cent of the total amount of dividend on offer.
Nestle, from the fast moving consumer goods, is offering N42.50 kobo on each share to its 792 million shareholders amounting to N33.6 billion, representing 12.8 percent.
Total Nigeria also made a strong showing with an offering of N14 for each of its 339 million shares amounting to N4.7 billion. Pharmaceuticals giant, GSK, followed closely with a N7.50 kobo for each of its 1.1 billion shares, amounting to N8.9 billion. This amounts to about 3.7 percent of the total dividend.
Nigerian Brewery is offering N3.13 for its 7.9 billion shares amounting to N2.5 billion.
The few tier one banks that have released their result also feature prominently with both Zenith and GTB offering N2.40 and N2.45,amounting to N7.6 billion and N7.00 billion respectively. Construction giant, Julius Berger, is also offering N1.00 each for its 1.3 billion shares amount to N1.3 billion.
The remaining 12 companies comprising of Vitafoam, African Prudentials, United Capitals, Medview Air, Stanbic IBTC, Custodian and Allied Insurance, Access Bank, UBA, are however offering less than N1.00 per share.
The 12 companies are offering a total of N19.4 billion representing 7.3 percent of the total dividend amount.
There are indications that financial results will start pouring in from different corners into the website of the Nigerian Stock Exchange (NSE) as listed companies have 90 days after the end of their calendar year to declare results. Dividend paying stocks are attractive to investors.
Mr Boniface Okezie, National Coordinator, Progressive Shareholders Association of Nigeria, said shareholders are impressed with what they have seen given the kind of challenges that these companies operate under in the year under review.
He said their 2016 result was badly hit by recession and that effect also spilled into 2017, as the cost of operation remained high not to talk of multiple taxation, cost of generating power etc.