Tracking Dividend Announcements and Payments for Nigerian Stock Exchange Companies in 2023

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.

Futuristic stock exchange scene with mobile phone, chart, numbers and SELL and BUY options (3D illustration)

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.

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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.

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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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CompanyDate AnnouncedInterim (DPS): NFinal dividend (DPS): NTotal dividend: NBonusOutstanding sharesDividend paymentClosure DateAGM DatePayment DateQualification date
Presco Plc7th August 202326.88.8NA1,000,000,0008,800,000,00014th September 202321st September 202322nd September 2023
CUSTODIAN INVESTMENT PLC (Interim)7th August 20230.150.15NA5,881,864,195882,279,62921st to 25th August 2023NA5th September 202318th August 2023
CUTIX PLC7th August 202300.120.12NA3,522,644,052422,717,28618th August 202325th August 202331st August 2023
NIGERIAN EXCHANGE GROUP (Interim)7th August 20230.250.25NA1,964,115,918491,028,98010th August 2023NA31st August 202310th August 2023
Tripple Gee and Company Plc17th July 202300.10.1NA494,954,00049,495,4007th August 202324th August 202325th August 20234th August 2023
Red Star Express Plc10th July 202300.20.2NA954,423,326190,884,66521st August 202314th September 202315th September 202318th August 2023
Smart Products Nigeria Plc20th June 202300.10.1NA45,000,0004,500,00017th July 202324th August 20234th September 2023
Academy Press5th July 202300.10.1NA756,000,00075,600,00012th September 202314th September 202321st September 202316th September 2023
Learn Africa Plc4th July 202300.250.25NA771,450,000192,862,50011th September 202326th September 202327th September 20238th September 2023
University Press Plc3rd July 202300.10.1NA431,409,50443,140,9506th September 202321st September 202321st September 202322nd June 2023
Northern Nigeria Flour Mills Plc27th June 202300.350.35NA178,200,00062,370,00023rd August 20237th September 20238th September 2023
FBN Holdings Plc2nd June 202300.50.5NA35,895,292,79217,947,646,3969th – 10th August 202315th August 202316th August 20238th August 2023
Conoil Plc25th May 202302.52.5NA693,952,1171,734,880,293TBATBATBATBA
Seplat Energy Plc (Interim)18th May 2023$0.03 (N13.95)00NA588,444,5618,208,801,62619th May 2023NA16th June 202318th May 2023
Airtel Africa Plc11th May 20230$0.03$0.033,758,151,504$122,891,55422nd June 2023TBA26th July 2023
Fidelity Bank Plc28th April 20230.10.40.5028,974,797,02314,487,398,51215 – 18th May 202323rd May 202323rd May 202312th May 2023
Multiverse Mining and Exploration Plc (Interim)3rd May 20230.050426,193,86821,309,69325th – 26th May 2023NA14th June 202324th May 2023
Cornerstone Insurance Plc (Interim)28th April 20230.060
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Source: Nairametrics