As the fiscal year progresses, companies listed on the Nigerian Stock Exchange (NSE) are gearing up to propose dividend payments to their valued shareholders. These proposed dividends, recommended by the respective boards of directors, are not only a reflection of a company’s financial performance but also a crucial factor influencing shareholder returns and share prices.
One of the key aspects investors and market enthusiasts closely monitor is the date of dividend announcements. This significant event is documented as a corporate action on the NSE’s official website, marking the commencement of an eagerly anticipated period for shareholders. The announcement date serves as a starting point for various dividend-related considerations.
Throughout the course of a fiscal year, companies make several dividend announcements, collectively referred to as “Dividend during the year.” These announcements encompass all the dividends declared by a company within the specified year. Such announcements reflect the company’s financial health and its commitment to providing returns to its stakeholders.
The culmination of these dividend declarations leads to the determination of “Total Dividends.” This figure is the summation of the interim dividend, typically announced in the previous year, and the final dividend, which is unveiled following the release of the comprehensive full-year annual report. Investors eagerly anticipate this final dividend, as it offers insights into the company’s performance over the entire year and its ability to distribute profits to shareholders.
For investors to qualify to receive dividends, they must own shares as of the “Qualification Date.” This date acts as a cutoff point, and shareholders who hold shares on or before this date become eligible to partake in the dividend distribution. To ensure eligibility, individuals purchasing shares are advised to do so at least three days before the Qualification Date. This aligns with the T+3 rule, signifying the date of share purchase plus three working days.
The eagerly awaited “Payment Date” marks the moment shareholders can expect to receive their dividend payments. This disbursement can occur either through traditional means, such as dividend warrants sent via post, or through modern channels like direct bank account credits, also known as e-dividends. This convenience factor highlights the NSE’s adaptation to contemporary financial practices.
An important date on the dividend timeline is the “Closure of Register.” It is imperative for shareholders to own shares listed in their register before this date to be eligible for dividend payments. This measure ensures that only genuine and rightful shareholders partake in the distribution of profits, contributing to a fair and transparent dividend allocation process.
As we delve into the realm of tracking dividends for the year 2023, it’s worth noting that the Nigerian Stock Exchange offers a user-friendly interface. This interface allows investors to access vital dividend-related information, including announcement dates, qualification dates, payment dates, closure of register dates, and the cumulative dividends for each company. This information empowers shareholders to make informed decisions and stay abreast of dividend developments.
For those on the move or using mobile devices, the platform’s design allows for horizontal scrolling, making it convenient to view all pertinent columns without compromise.
In conclusion, monitoring dividend announcements and payments from companies quoted on the Nigerian Stock Exchange is a pivotal practice for investors. These dividends serve as a testament to a company’s performance, impacting both shareholder returns and share prices. As audited accounts materialize and dividend proposals come to the forefront, shareholders eagerly anticipate these key dates to maximize their investment potential and stay connected to the dynamic world of the Nigerian stock market.
List of Dividends 2023
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| Company | Date Announced | Interim (DPS): N | Final dividend (DPS): N | Total dividend: N | Bonus | Outstanding shares | Dividend payment | Closure Date | AGM Date | Payment Date | Qualification date |
| Presco Plc | 7th August 2023 | 2 | 6.8 | 8.8 | NA | 1,000,000,000 | 8,800,000,000 | 14th September 2023 | 21st September 2023 | 22nd September 2023 | |
| CUSTODIAN INVESTMENT PLC (Interim) | 7th August 2023 | 0.15 | 0.15 | NA | 5,881,864,195 | 882,279,629 | 21st to 25th August 2023 | NA | 5th September 2023 | 18th August 2023 | |
| CUTIX PLC | 7th August 2023 | 0 | 0.12 | 0.12 | NA | 3,522,644,052 | 422,717,286 | 18th August 2023 | 25th August 2023 | 31st August 2023 | |
| NIGERIAN EXCHANGE GROUP (Interim) | 7th August 2023 | 0.25 | 0.25 | NA | 1,964,115,918 | 491,028,980 | 10th August 2023 | NA | 31st August 2023 | 10th August 2023 | |
| Tripple Gee and Company Plc | 17th July 2023 | 0 | 0.1 | 0.1 | NA | 494,954,000 | 49,495,400 | 7th August 2023 | 24th August 2023 | 25th August 2023 | 4th August 2023 |
| Red Star Express Plc | 10th July 2023 | 0 | 0.2 | 0.2 | NA | 954,423,326 | 190,884,665 | 21st August 2023 | 14th September 2023 | 15th September 2023 | 18th August 2023 |
| Smart Products Nigeria Plc | 20th June 2023 | 0 | 0.1 | 0.1 | NA | 45,000,000 | 4,500,000 | 17th July 2023 | 24th August 2023 | 4th September 2023 | |
| Academy Press | 5th July 2023 | 0 | 0.1 | 0.1 | NA | 756,000,000 | 75,600,000 | 12th September 2023 | 14th September 2023 | 21st September 2023 | 16th September 2023 |
| Learn Africa Plc | 4th July 2023 | 0 | 0.25 | 0.25 | NA | 771,450,000 | 192,862,500 | 11th September 2023 | 26th September 2023 | 27th September 2023 | 8th September 2023 |
| University Press Plc | 3rd July 2023 | 0 | 0.1 | 0.1 | NA | 431,409,504 | 43,140,950 | 6th September 2023 | 21st September 2023 | 21st September 2023 | 22nd June 2023 |
| Northern Nigeria Flour Mills Plc | 27th June 2023 | 0 | 0.35 | 0.35 | NA | 178,200,000 | 62,370,000 | 23rd August 2023 | 7th September 2023 | 8th September 2023 | |
| FBN Holdings Plc | 2nd June 2023 | 0 | 0.5 | 0.5 | NA | 35,895,292,792 | 17,947,646,396 | 9th – 10th August 2023 | 15th August 2023 | 16th August 2023 | 8th August 2023 |
| Conoil Plc | 25th May 2023 | 0 | 2.5 | 2.5 | NA | 693,952,117 | 1,734,880,293 | TBA | TBA | TBA | TBA |
| Seplat Energy Plc (Interim) | 18th May 2023 | $0.03 (N13.95) | 0 | 0 | NA | 588,444,561 | 8,208,801,626 | 19th May 2023 | NA | 16th June 2023 | 18th May 2023 |
| Airtel Africa Plc | 11th May 2023 | 0 | $0.03 | $0.03 | 3,758,151,504 | $122,891,554 | 22nd June 2023 | TBA | 26th July 2023 | ||
| Fidelity Bank Plc | 28th April 2023 | 0.1 | 0.4 | 0.5 | 0 | 28,974,797,023 | 14,487,398,512 | 15 – 18th May 2023 | 23rd May 2023 | 23rd May 2023 | 12th May 2023 |
| Multiverse Mining and Exploration Plc (Interim) | 3rd May 2023 | 0.05 | 0 | 426,193,868 | 21,309,693 | 25th – 26th May 2023 | NA | 14th June 2023 | 24th May 2023 | ||
| Cornerstone Insurance Plc (Interim) | 28th April 2023 | 0.06 | 0 | ||||||||
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Source: Nairametrics
