Telcos and Banks: Highest Dividend-Paying Firms in Nigeria

1 min Read September 13, 2023 at 11:42 AM UTC

Highlights

In 2022, 71 companies in Nigeria from different industries like banking, telecom, and consumer goods, gave out a total of over N1.5 trillion ($1.6 billion) as dividends.
Some of the top companies on this list were Dangote Cement, MTN Nigeria, Zenith Bank Plc, and others.
This shows that investing in the Nigerian stock market can be a good way to make money, as it offers both regular income and the potential for your investment to grow over time.

Our Takeaway

Dividends are important in stock investing because they give shareholders a steady source of extra money. Large corporations that make a lot of money and have steady finances usually pay significant dividends. When you invest in these companies, you can benefit in two ways: your shares can become more valuable over time, and you get regular dividend payouts. This year, stocks with a market capitalization of over N1 trillion have emerged as the titans of the NGX. As of August, their total market capitalization stood at an eye-watering N25.1 trillion.

This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.