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Dangote, Rabiu: Why April is the Favorite Month of Nigerian Stock Investors
Capital Market

Dangote, Rabiu: Why April is the Favorite Month of Nigerian Stock Investors

by  Dave Ibemere 2 min read
  • Nigerian stock investors favor the month of April due to the expected huge payout from companies
  • MTN Nigeria, Dangote Cement, Nestle, and other Nigerian companies have already announced dividend payments in April 2023
  • There are 157 publicly traded companies in Nigeria with a market value exceeding N2 trillion

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Nigerian stock investors eagerly anticipate April every year, as many companies pay out dividends to their shareholders during this time.

A dividend is a reward given by companies to their shareholders, subject to approval by the board of directors and shareholders.

Nigerian stocks dividends
Stock investors in Nigeria Photo credit: NSE
Source: Getty Images

This April 2023, at least ten major companies, including Lafarge and MTN, have announced plans to pay out over N744 billion in dividends to their shareholders.

The ten companies include MTN Nigeria, Lafarge Africa, Dangote Cement, Stanbic IBTC Holdings, Transcorp Hotels Plc, United Capital Plc, Nestle Plc, BUA foods, BUA cement, and Nigerian Breweries Plc.

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However, only shareholders whose names appear in the register of members on specific dates provided by the companies are eligible for dividend payments.

List of dividends payments by companies

  • MTN Nigeria: N288bn (N10 per share) to be paid on April 20, 2023.
  • Lafarge Africa Plc: N32.21bn (200k per share) to be paid on April 28, 2023.
  • United Capital Plc: N9bn (N1.50 kobo per share) to be paid upon approval at the Annual General Meeting.
  • Nestle Plc: N40.02bn (N36.50 per 50 ordinary shares) to be paid on May 18, 2023.
  • Nigerian Breweries Plc: N12.97bn (N1.03 kobo per share) to be paid on April 26, 2023.
  • Dangote Cement: N337.47bn (N20.00 per 50 kobo share) to be paid electronically on April 14, 2023.
  • Transcorp Hotels Plc: N1,331,528,693.43 (13 kobo per share) on the outstanding ordinary share to be paid
  • Stanbic IBC Holdings: N25.913bn (N2.00 per share) to be paid by May 26, 2023.
  • BUA Cement - N2.80 kobo per share. The dividend payout will cost the firm N88.04 billion.
  • BUA Foods will pay shareholders a dividend per share of N4.50 translating to a payout of N81 billion

Read also

BUA foods set to share N81 billion to shareholders, Rabiu, brother to get 95% share

More money for Dangote

In another report, Legit.ng revealed that Africa's richest man is set to walk home with over N293 billion as dividends from his cement company, Dangote Cement.

Aliko Dangote's cement company recorded a revenue jump of 16.96% in 2022, to hit a high of over N1.61 trillion.

Dangote's dividend is more than the budget of 25 states for the fiscal year of 2023.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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