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Twenty Nigerian firms have declared a total of N412.96 billion so far in 2017 as shareholders await more declarations.
If you are an investor or shareholder, please pay attention to the data gleaned by BusinessDay Markets and Intelligence.
Zenith Bank, United Bank for Africa (UBA), Access Bank, GTBank and Stabic IBTC has a combined dividend of N186.68 billion, which is 45.31 percent of the total figure of N412.96 billion.
The above figure that is unsurprising since lenders have robust earnings, free cash flow and strong retained earnings or accumulated reserve.
A breakdown of the figure shows Zenith Bank declared a final dividend of N2.45 for every share of N0.50 for the year ended December 2017, which translates to N76.43 billion.
The lender’s profit before tax rose by 29.80 percent to N203.46 billion in the period under review from N156.74 billion as at December 2016.
Profit after tax was up 37.20 percent to N177.93 billion in December 2017 from N129.65 billion as at December 2016.
GTBank, the largest lender by market capitalization in Africa’s largest economy declared a final dividend of N2.40 per ordinary share of N0.50, which translates to N70.63 billion in absolute figure.
The lender’s pre-tax profit grew by 21.25 percent to N200.24 billion in December 2017 from N165.13 billion as at December 2016. Profit after tax followed the same growth trajectory as it grew by 28.86 percent to N170.47 billion in the period under review.
Access Bank declared a final dividend of N0.40 for every share of N0.50, which translates to an absolute figure of N11.53 billion.
An increase in interest expense by 44.64 percent to N156.40 billion, a 57.15 percent increase in impairment charge to N34.46 billion and a loss on investment securities of N33.40 billion undermined the lender’s bottom line (profit) as net income slumped by 13.32 percent to N62 billion as at December 2017.
Nestle Nigeria declared a final dividend of N27.50 per N0.5, which translates to N21.79 billion after multiplying total number of ordinary shares by dividend per share.
Nestle Nigeria Plc generated Naira earnings well above the levels of the past five years as the company continues to surmount the headwinds brought on by weak consumer spending, rising input costs and currency volatility.
Lists of Dividend Payment
| Company | DPS | N’m |
| Vitafoam Nigeria Plc | 0.15 | 156,000 |
| Nigeria Energy Sector Fund | 102 | 76,086 |
| Nigerian Breweries Plc | 3.13 | 25,040 |
| Transcorp Hotel | 0.1245 | 946,200 |
| Total Nig. Plc | 14 | 4,753,280 |
| Africa Prudential | 0.4 | 800,000 |
| United Capital Plc | 0.35 | 2,100,000 |
| Nestle Nigeria Plc | 27.5 | 21,798,150 |
| Medview Airline | 0.03 | 292,500 |
| Nascon Allied Industries Plc | 1.5 | 3,975,000 |
| Zenith Bank Plc | 2.45 | 76,930,000 |
| McNichols Consolidated Plc | 0.03 | 9,801 |
| Guaranty Trust Bank Plc | 2.4 | 70,632,000 |
| Stanbic IBTC Holdings Plc | 0.5 | 5,250,000 |
| Julius Berger Nig. Plc | 1 | 1,320,000 |
| Custodian and Allied | 0.32 | 188,219 |
| GSK Plc | 7.5 | 9,000,000 |
| Access Bank Plc | 0.4 | 11,572,000 |
| Cadbury Plc | 0.16 | 300,800 |
| United bank for Africa (UBA) | 0.65 | 22,230,000 |
| Dangote Cement | 10.5 | 178,920,000 |
Source: Company Financials; BuisnessDay MI
According to the company’s 2017 audited financial statement, net income hit N33.72 billion, which represents a 325.25 surge from N7.92 billion figures recorded in the corresponding period of 2016, which is still higher than the 5.50 percent growth recorded in 2013, when profit was N22.25 billion, as the chart shows.
Banks have always reward owners with bumper dividend more than companies in other sector as they continue to grow earnings amid a tough and unpredictable macroeconomic environment.
The recent liquidity ease in the foreign exchange market since the introduction of a new foreign exchange policy by the central bank made dollars available for lenders and their customers.
This means customers can now pay back interest on loans borrowed from bank.
BALA AUGIE
