NGX Group Announces Record N4.4bn Dividend, Posts 157% Profit Growth
By SpringsNews
The Nigerian Exchange Group Plc (NGX Group) has announced a final dividend of N4.4 billion for the 2024 financial year, marking the highest payout in the company’s history.
According to the group’s audited financial statement for the year ended December 31, 2024, the dividend equates to N2 per share and remains subject to shareholder approval and applicable withholding tax.
NGX Group posted an impressive profit before tax of N13.6 billion, reflecting a 157.3% surge compared to N5.3 billion recorded in 2023. Gross earnings also witnessed a substantial 103.2% increase to N24 billion, driven by growth in multiple revenue streams, including transaction fees, listing fees, and market data income.
The chairman of NGX Group, Umaru Kwairanga, emphasized that the record dividend underscores the company’s dedication to maximizing shareholder value while maintaining financial stability.
“These results signify a pivotal moment in NGX Group’s post-demutualization growth trajectory, strengthening investor confidence in our long-term vision. The approval of a record N4.4 billion dividend reflects our unwavering commitment to rewarding shareholders while positioning NGX Group as a key player in capital market development,” Kwairanga stated.
He further noted that NGX Group remains focused on driving market expansion, innovation, and strategic investments to ensure sustainable value creation for all stakeholders.
With this remarkable financial performance, NGX Group continues to solidify its position as a leading force in Nigeria’s capital market, fostering growth and investment opportunities for the broader economy.
