June 25, 2024

By Habibat Aliu

Dangote Cement Plc and 10 listed firms on the Nigerian Exchange (NGX) have declared an N762.121 billion dividend payout for the 2022 financial year.

 The 10 companies are MTN Nigeria Communication (MTNN), Geregu Power, Nigerian Breweries, United Capital, Lafarge Africa, BUA Cement, Nestle Nigeria, Dangote Sugar Refinery, Transcorp Hotel and NASCON Allied Industries (NASCON).

  A breakdown of the dividend declared showed that Dangote Cement, in line with its dividend policy, is proposing a final dividend of N340.82 billion, representing N20 per share while MTNN recommended a final dividend of N10 per share culminating in N203.55 billion. Geregu Power proposed a final dividend of N8 per share, amounting to N20 billion.

 Nigerian Breweries declared a final dividend of N10.5 billion or N1.03 per share, while United Capital proposed a final dividend of N9 billion or N1.5 per share.

 Lafarge Africa, BUA Cement, Nestle Nigeria, Dangote Sugar Refinery, Transcorp Hotel and National Salt Company of Nigeria (NASCON) Allied Industries also declared a dividend of N32.216 billion, N94.82 billion, N28.932 billion, N18.22 billion, N1.33 billion and N2.649 billion, respectively.

 Analysts at the weekend applauded the 2022 corporate earnings and dividend payout of the companies, describing listed firms as resilient.

 They also added that the good corporate governance in operation in the firms has contributed to their ability to sustain dividend payments amid harsh operating environments.

  National Coordinator of the Progressive Shareholders Association (PSAN), Boniface Okezie, stated that despite economic hardship, Dangote Cement, among others, has recorded impressive performance.

  “As we have seen from their performance, there is still resilience in the corporate world which means there is hope for our domestic economy,” he said.


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