Nigerian Exchange Group Plc (NGX Group) has declared an interim dividend of 25 kobo per ordinary share of 50 kobo each for the first half of the financial year 2023.
This marks the first dividend distribution since the demutualisation of the Nigerian Stock Exchange and comes after an emergency meeting of the Board of Directors held on Tuesday, 25 July 2023.
The interim dividend will be payable to shareholders whose names appear in the Shareholders’ Register as of close of business on Monday, 31 July 2023.
Qualified shareholders can expect to receive electronic payment on Thursday, 31 August 2023. The decision to declare the dividend was made as a resolution of the Board in response to a request from shareholders during the Annual General Meeting held on 14 July 2023.
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In response to the dividend announcement, Alhaji (Dr) Umaru Kwairanga, Chairman of NGX Group, expressed, “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.”
Mr Oscar Onyema, OON, the Group Chief Executive Officer of NGX Group, highlighted that “The proposed payment will not significantly impact the cash position and retained earnings of the Company and will further position the company as investible for a wider class of investors in the capital market. We will continue to focus on maximising value for shareholders just as we champion the development of Africa’s financial markets.”