NGX Group Excites Shareholders With 25 Kobo Interim Dividend

By Aduragbemi Omiyale

Shareholders of the Nigerian Exchange (NGX) Group Plc will receive an interim dividend of 25 Kobo for the half-year of 2023, the board has confirmed.

This decision was reached at the emergency meeting of the board of the organisation on Tuesday, July 25, in Lagos, following the request from shareholders at the Annual General Meeting (AGM) held on July 14, 2023.

This dividend, which is the first since the demutualisation of the Nigerian Stock Exchange (NSE), will be paid to shareholders whose names appear in the shareholders’ register as of the close of business Monday, July 31, 2023.

A statement from the firm also disclosed that payment would be remitted electronically to qualified shareholders on Thursday, August 31, 2023.

“The announcement of the dividend will send a signal to our shareholders that the company has a listening and responsive board following the request at the last annual general meeting.

“We hope to continue enjoying the support of our valued shareholders as NGX Group seeks to execute on its strategy to create sustainable growth in the medium to long term,” the Chairman of NGX Group, Mr Umaru Kwairanga, said.

Also commenting, the chief executive of NGX Group, Mr Oscar Onyema, said, “The proposed payment will not significantly impact the cash position and retained earnings of the company and will further position the company as investible for a wider class of investors in the capital market.

“We will continue to focus on maximising value for shareholders just as we champion the development of Africa’s financial markets.”