The Board of Directors of Nigerian Exchange Group (NGX Group) 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.
The dividend announcement was the outcome of an emergency meeting held by the Board of Directors on Tuesday, coming as a resolution of the Board following the request from shareholders at the recently held Annual General Meeting on 14 July 2023.
The dividend, which is the first since the demutualisation of the Nigerian Stock Exchange, will be paid to shareholders whose names appear in the Shareholders’ Register as of the close of business Monday, 31 July 2023.
Commenting on the dividend announcement, the Chairman NGX Group, Alhaji (Dr) Umaru Kwairanga, said, “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 its strategy to create sustainable growth in the medium to long term.”
Payment will be remitted electronically to qualified shareholders on Thursday, 31 August 2023.
It will be recalled that Kaziranga, during the AGM of the Group on 14 July 2023, had noted that the Board and Management of Nigerian Exchange Group Plc (NGX Group) are open to working with the Federal government, as well as stakeholders towards improving the country’s credit profile and creating a favourable environment for both domestic and foreign.
“The capital market community is excited by the new government and the steps it has so far taken concerning the economy as reflected in the tremendous growth in our market indicators.
As a group, we are committed to working with the government to stimulate further economic growth, and address higher capital costs, as this will go a long way to enhance Nigeria’s credit profile and create a favourable environment for both domestic and foreign investors”, he said.
Kwairanga further noted that the Federal government needs to eke out more friendly market policies that will engender growth, as a consistent and faithful implementation of market policies will help businesses to thrive.