Economy
Attention Shifts to Dividend-Paying Stocks as Earnings Season Nears
By Dipo Olowookere
In the first week, month, and quarter of 2024, dividend-paying stocks will be the toast of investors at the Nigerian Exchange (NGX) Limited as the earnings season approaches.
From next month, a few companies listed on the stock exchange, like United Capital and Secure Electronic Technology, will begin to release their financial statements for the 2023 fiscal year, though more are expected in March and April 2024, especially those in the banking sector.
The performance of the equity market and the sharp price appreciation posted by some equities last year will spur investors to quickly buy shares of companies they are sure will declare dividends. These include Dangote Cement, Zenith Bank, GTCO, UBA, and MTN Nigeria, among others.
As the market resumes trading activity today, Tuesday, January 2, 2024, after a break on Monday for the New Year’s Day celebration, Business Post analysts expect a mixture of bargain-hunting and profit-taking.
However, the core activity expected today is portfolio rebalancing, as traders will want to take another look into their investment strategies, deciding whether to raise their risk level or not. This will make them to decide if to remain in the stock market or concentrate on the fixed-income market.
With the NGX outpacing inflation last year, gaining 45.90 per cent, and Transcorp Hotels surging by 1,022.9 per cent in the year, and others rising above 500 per cent, one may not need a seer to project where the decision will tilt.
But one of the major factors that would shape their decision on this is another look at the economic reforms of President Bola Tinubu. Investors will chew on his nationwide broadcast yesterday and see if they can go to the bank with his words.
The Nigerian economy has been struggling since he assumed office on May 29, 2023, especially after he declared an end to the payment of petrol subsidies.
A few weeks later, the Central Bank of Nigeria (CBN) unified the exchange rates, and since then, the Naira has suffered, hitting its worst level of N1,099/$1 last month at the official market and selling above N1,300/$1 at a time in the parallel market in 2023, making the cost of goods and services rise, with inflation reaching 28.20 per cent in November.
In his speech yesterday, Mr Tinubu admitted that these two policy decisions have brought hardships to Nigerians but maintained they were in the best interest of the country.
“Over the past seven months of our administration, I have taken some difficult and yet necessary decisions to save our country from fiscal catastrophe.
“One of those decisions was the removal of fuel subsidies, which had become an unsustainable financial burden on our country for more than four decades.
“Another was the removal of the chokehold of a few people on our foreign exchange system that benefited only the rich and the most powerful among us.
“Without a doubt, these two decisions brought some discomfort to individuals, families, and businesses,” he said.
“Dear Compatriots, take this from me: the time may be rough and tough; however, our spirit must remain unbowed because tough times never last,” he added.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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