Nigerian Exchange Group Plc (“NGX Group” or “The Company”) has declared an interim dividend of 25 kobo per ordinary share of 50 kobo each, distributable to shareholders for the first half of the financial year 2023.
This dividend marks a significant moment as it is the first dividend declared since the demutualisation of the Nigerian Stock Exchange.
The decision to announce the dividend came as a result of a resolution by the Board of Directors following the request from shareholders at the Annual General Meeting held on 14 July 2023. This move demonstrates the Company’s commitment to being attentive and responsive to its shareholders’ concerns.
Shareholders whose names appear in the Shareholders’ Register as of the close of business on Monday, 31 July 2023, will be eligible to receive the dividend. The payment will be remitted electronically to qualified shareholders on Thursday, 31 August 2023.
Chairman of NGX Group, Alhaji (Dr) Umaru Kwairanga, expressed his views on the dividend announcement, stating, “The declaration of the dividend will send a signal to our shareholders that the Company is attentive to their feedback and demands, as demonstrated during the last annual general meeting. We hope to maintain the continued support of our valued shareholders as NGX Group pursues its strategy to foster sustainable growth in the medium to long term.”
Mr. Oscar Onyema, OON, the Group Chief Executive Officer of NGX Group, also commented on the dividend, saying, “The proposed payment will have no significant impact on the cash position and retained earnings of the Company.
This will further enhance the company’s attractiveness for a wider class of investors in the capital market. Our primary focus remains on maximizing value for shareholders while contributing to the development of Africa’s financial markets.”
With this dividend declaration, NGX Group aims to reinforce its commitment to creating sustainable growth and value for its shareholders while solidifying its position as an attractive investment option for a broader range of investors in the capital market
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