Following the Board of Directors’ emergency meeting on Tuesday, Nigerian Exchange Group Plc yesterday declared a 25-kobo interim dividend for each ordinary share.
Nigerian Exchange Group Plc yesterday announced an interim dividend of 25 kobo per ordinary share of 50 kobo each, payable to shareholders for the first half of the fiscal year 2023, following the emergency meeting of the Board of Directors on Tuesday.
This dividend, which is the first since the Nigerian Stock Exchange was demutualized, would be given to stockholders whose names are listed in the Shareholders’ Register as of Monday, July 31, 2023, at close of business.
On August 31st, payment will be sent electronically to qualifying stockholders. The Board decided to declare a dividend after shareholders made the proposal at the most recent annual general meeting, which was held on July 14.
Alhaji (Dr.) Umaru Kwairanga, Chairman of the NGX Group, commented on the dividend announcement, saying, “The announcement of the dividend will send a signal to our shareholders that the firm has a listening and responding Board in response to the request at the last annual general meeting. We expect to continue to have the support of our cherished shareholders as NGX Group works to implement its medium- to long-term sustainable growth strategy.
According to Mr. Oscar Onyema, OON, Group Chief Executive Officer of NGX Group, “The proposed payment will further position the company as investible for a wider class of investors in the capital market and will have no appreciable impact on the cash position and retained profits of the company. As we continue to support the growth of Africa’s financial markets, we will continue to prioritize maximizing value for shareholders.