NGX Group Announces Record Dividend and Financial Growth for 2024

Nigerian Exchange Group Plc has declared a final dividend of N4.4bn for the 2024 financial year, marking the highest payout in the company’s history.

In its audited financial statement for the year ending December 31, 2024, the dividend, translating to N2 per share, is subject to shareholder approval and applicable withholding tax. The group reported a profit before tax of N13.6bn, a 157.3% increase from the N5.3bn recorded in 2023. Gross earnings also soared by 103.2% to N24bn, driven by growth in revenue streams such as transaction fees, listing fees, and market data income.

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The chairman of NGX Group, Umaru Kwairanga, emphasized the company’s focus on delivering shareholder value while maintaining a strong capital position. “These results mark a pivotal moment in NGX Group’s post-demutualization growth journey, reinforcing investor confidence in our long-term vision. The approval of a record N4.4 bn dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development. As we continue to invest in market infrastructure and innovation, we remain focused on creating sustainable value for all stakeholders,” he said.

This reflects NGX Group’s commitment to innovation, expansion, and driving sustainable capital market development.