APA – Lagos (Nigeria)
The Nigerian Exchange Group Plc (NGX Group) has announced that it will pay its shareholders an interim dividend of 25 kobo per ordinary share of 50 kobo each on Thursday, August 31, 2023.
According to the statement by the NGX, this is the outcome of the emergency board meeting convened by the Group last month, during which it affirmed its decision to electronically distribute its inaugural dividend following the demutualization in 2021, to qualified shareholders.
It added that 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, 2023.
Commenting on the dividend announcement, the Chairman, NGX Group, Alhaji Umaru Kwairanga, said: “The announcement of the dividend will send a signal to our shareholders that 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 Group Chief Executive Officer, NGX Group, Mr Oscar Onyema, also stated: “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.
“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.”
“Additionally, shareholder groups have shared their excitement and anticipation, emphasizing that this marks the commencement of positive developments ahead. They conveyed their satisfaction with NGX Group and encouraged the company to maintain its commitment to dividends in the upcoming financial period,” the statement added.
GIK/APA
Nigerian Exchange Group Plc to pay interim dividend to shareholders
