The Nigerian Exchange Group Plc (NGX Group) is expected to pay its shareholders an interim dividend of 25 kobo per ordinary share of 50 kobo each today.
This derived from the decision taken by the board at its emergency meeting convened by the Group last month, during which the board decided to electronically distribute its maiden dividend to shareholders following the Exchange’s demutualization in 2021.
According to the board, the decision to declare the dividend was reached as a direct response to the input and suggestions received from shareholders at the company’s Annual General Meeting held on July 14.
Speaking on the dividend issue, the Chairman of the NGX Group, Umaru Kwairanga, stated that “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”, he added.
Also commenting, the Group Chief Executive Officer of the NGX Group, Oscar Onyema, said: “Consistent with our strategic objective to maximise shareholder value, the Board of Directors has consented to an interim dividend of N0.25 Kobo per ordinary share of 50 Kobo. This translates to a total payout of N495,532,893 (Four Hundred and ninety-five million, five hundred and thirty-two thousand, eight hundred and ninety-three Naira).
“This initiative underscores better flow through of dividend from an associate company and first-time dividend payment from our flagship subsidiary. It also emphasizes our continued commitment to working collaboratively with our shareholders and other stakeholders in creating and distributing value, even in challenging market conditions”, the investment expert added.
The shareholders lauded the board on the dividend payment and urged it to maintain its commitment to dividend payments in future financial years.
