Listed companies declared N1.1trn dividends to shareholders in 2024

Improved confidence in Nigeria’s capital market has continued to surge, manifesting in huge investor returns with listed companies declaring dividends totaling N1.1 trillion to shareholders in 2024.

Corroborating the sterling performance of the Nigerian capital market, which reflects its health status, the Securities and Exchange Commission (SEC) Director-General, Dr Emomotimi Agama, said out of the amount, listed companies had already paid out N1.0 trillion to shareholders.

Dr Agama disclosed that the commission, between January and December 2024, had approved a total of N3.68 trillion in new issues, further reaffirming the renewed interest in the Nigerian capital market.

The Director-General of SEC, who stated this at the first quarter Capital Market Committee (CMC) meeting, gave a breakdown to support his disclosure.

Dr. Agama explained: “This comprised N59.82 billion in fixed income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market.

“For the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38 billion.

“Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities.”

On mergers and acquisitions, Agama said the Commission in 2024 approved 11 transactions with an aggregate value of N320.36 billion.

“Most notable of these was the acquisition of a 58.02 percent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion.

ALSO READ FROM NIGERIAN TRIBUNE: PDP crisis: Wike threatens to pull out of agreements previously reached, gives reason 

“There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.

“Among the notable corporate restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which saw a one-for-four share consolidation amounting to N5.08 billion,” he said.

Furthermore, he said the Commission had approved three major transactions year-to-date worth N38.53 billion.

“This includes two takeovers and one corporate restructuring. While no mergers have been recorded within the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors.

“These activities reflect continued strategic realignments within the market,” Agama said.

He highlighted that the collective investment schemes recorded robust expansion with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024.

“Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unitholders.

“Privately managed portfolios and products grew to 444 vehicles with assets under management totaling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments.”