Nigerian Stocks: List of dividends announced in 2020

As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.

This page will be updated from time to time.

READ ALSO: Updated: Gender Balance, looking at the board composition of top banks on the NSE


Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.

Investment One

Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).

Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).

Calculate Dividends

Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.

You can also scroll sideways to view the rest of the columns if using a mobile phone.

READ MORE: How to read stock market tables

2020 Dividends from companies quoted on the Nigerian Stock Exchange

CompanyDPSDate AnnouncedBonusClosure DateAGM DatePayment DateQualification date
Neimeth International Pharmaceuticals PlcN0.065k30th December 2020Nil23rd February 20219th March 202112th March 202122nd February 2021
Vitafoam Nigeria PlcN0.7k31st December 2020Nil15th - 19th February 20214th March 20215th March 202112th February 2021
Conoil PlcN2.00k6th October 2020Nil23rd October 202013th July 2020
Seplat Petroleum Dev. Company PlcUSD$0.0530th October 2020Nil16th November 2020Nil7th December 202013th December 2020
Airtel AfricaUSD$0.01531st October 2020Nil13th November 2020Nil11th December 202013th November 2020
Nigerian Breweries PlcN0.25k29th October 2020Nil23rd - 27th November 2020Nil1st December 202020th November 2020
Nestle Nig PlcN2527th October 2020Nil23rd - 27th November 2020Nil7th December 202020th November 2020
Access Bank PlcN0.25k3rd September 2020Nil18th September 2020Nil28th September 202017th September 2020
11 Plc (Updated)N8.2528th May 2020Nil30th Sept - 5th Oct 202014th October 202015th October 202029th Sept 2020
Zenith bank PlcN0.30k3rd September 2020Nil17th September 2020Nil22nd September 202016th September 2020
Guaranty Trust Bank PlcN0.30k2nd September 2020Nil16th September 2020Nil21st September 202015th September 2020
Stanbic IBTC Holdings PlcN0.40k2nd September 2020Nil16th - 23rd September 2020Nil30th September 202015th September 2020
Learn Africa PlcN0.05k1st September 2020Nil5th - 9th October 202015th October 202016th October 20202nd October 2020
United Bank for AfricaN0.17k1st September 2020Nil16th September 2020Nil23rd September 202015th September 2020
Tripple Gee & Company PlcN0.055k12th August 2020Nil1st - 4th September 202016th September 202022nd September 202031st August 2020
Lasaco Assurance PlcN0.05k14th August 2020Nil1st September 202015th September 202022nd September 2020
Linkage Assurance PlcNil26th June 20201 for every 4 shares20th - 24th July 202013th August 2020NA17th July 2020
Smart Products Nigeria PlcN0.10k30th June 2020Nil27th - 31st July 202027th August 20203rd September
University Press PlcN0.15k10th June 20201 for every 13 shares25th September 20205th November 20205th November 2020
AIICO InsuranceNil10th June 20201 for every 13 shares29th June - 3rd July 2020To to be communicatedNA25th June 2020
Red Star Express PlcN0.35k28th August 2020Nil21st - 25th September 20208th October 202015th October 202018th September 2020
Consolidated Hallmark Insurance PlcNil4th August 20201 for every 14 shares19th - 25th 202026th August 2020Nil18th August 2020
Custodian Investment PlcN0.10k29th July 2020Nil24th - 28th August 2020Nil1st September21st August 2020
SFS Real Estate Investment TrustN7.3017th August 2020Nil7th - 11th September 2020Nil25th September 20204th September 2020
Northern Nigeria Flour Mills PLCN0.15k13th August 2020Nil25th - 28th August 20208th September 202010th September 202024th August 2020
Honeywell Flour millsN0.04k5th August 2020Nil17th - 23rd September 202030th September 202030th September 202016th September 2020
Presco Plc (Updated)N2.00k3rd June 2020Nil20th - 22nd July 20202nd September 20204th September 202017th July 2020
Cornerstone InsuranceNil4th August 20207 new shares for every 30 existing shares13th -17th August 2020NANA12th August 2020
Flour Mills of NigeriaN1.4k29th July 2020Nil17th August - 21st August 202010th September14th September 202014th August 2020
MTN Nigeria PlcN3.50k29th July 2020Nil17th August 2020NA24tb August 202014th August 2020
Cutix PLCN0.12K29th July 2020Nil16th - 20th November 202027th November 202030th November 202013th November 2020
C & I Leasing PLCN0.20k30th June 2020Nil14th - 16th July 202023rd July 202031st July 202013th July 2020
McNichols Consolidated Plc (Revised)N0.03k1st April 2020Nil2nd - 6th July 202030th July 20207th August 20201st July 2020
Dangote Sugar Refinery PlcN1.10k8th June 2020Nil22nd June 20209th July 2020within 48hrs after AGM19th June 2020
Jaiz bankN0.03k9th June 2020Nil29th June - 3rd July 202016th July 202016th July 202026th June 2020
UAC of Nigeria Plc (UPDATED)N0.10k20th April 2020Nil19th - 22nd May 202015th July 202016th July 202018th May 2020
Prestige Assurance PlcNil4th June 20202 New shares for every 11 existing shares22nd - 26th June 202030th June 2020N/A19th June 2020
Trans-Nationwide Express PlcN0.03k1st June 2020Nil6th - 10th July 202016th July 202020th July 20203rd July 2020
Nigeria Aviation Handling Company PLCN0.30k28th May 2020Nil1st - 3rd July 202016th July 202016th July 202030th June 2020
Skyway Aviation Handling Co. PlcN0.16k1st June 2020Nil17th - 23rd June 202030th June 202030th June 202016th June 2020
Glaxo SmithKilne Consumer Nig. PlcN0.55k22nd May 2020Nil23rd June - 2nd July 202023rd July 202024th July 202022nd June 2020
Airtel Africa0.0313th May 2020Nil6th July 2020Not applicable24th July 2020NA
Caverton Offshore Support Group PlcN0.20k22nd May 2020Nil16th June 202025th June 202025th June 202015th June 2020
Nigerian Breweries Plc (Revised)N1.51k20th May 2020Nil5th-11th March 202023rd June 202024th June 20204th March 2020
BUA CementN1.75k19th May 2020Nil28th Sept - 2nd Oct 202022nd October 202023rd October 202025th September 2020
NASCON Allied Industries PlcN0.40k13th May 2020Nil15th - 16th July 202027th July 202029th July 202014th July 2020
Total Nigeria PlcN6.7113th May 2020Nil5th - 11th June 2020to be announced24hrs after meeting4th June 2020
Cadbury Nigeria PlcN0.49k13th May 2020Nil25th - 29th May 202024th June 202025th June 202022nd May 2020
May and Baker PlcN0.25k13th May 2020Nil27th - 29th May 20204th June 20208th June 202026th May 2020
NPF Microfinance Bank PlcN0.20k11th May 2020Nil17th - 22nd June 202030th June 202030th June 202016th June 2020
Okomu Oil Palm PlcN2.0023rd April2020Nil19th - 22nd May 202028th May 202029th May 202018th May 2020
Lafarge Africa PlcN127th April 2020Nil4th - 8th May 20203rd June 20203rd June 202030th April 2020
Wema Bank PlcN0.04k23rd April 2020Nil7th - 12th May 202018th May 202018th May 20206th May 2020
Union bank of NigeriaN0.25k13th April 2020Nil27th - 30th April 20206th May 20206th May 202024th April 2020
FBN HoldingsN0.38k6th April 2020Nil21st - 22nd April 202027th April 202028th April 202020th April 2020
Lafarge Africa PlcN1.00k6th April 2020Nil4th - 8th May 202026th May 202026th May 202030th April 2020
Ikeja Hotel PlcN0.023rd April 2020Nil2nd - 8th July 202030th July 20207th August 20201st July 2020
NEM InsuranceN0.15k1st April 2020Nil4th - 8th May 2020to be announcedto be announced30th April 2020
FCMB Group PlcN0.14k31st March 2020Nil15th - 17th April 202028th April 202028th April 202014th April 2020
Beta Glass Nigeria PlcN1.67k30th March 2020Nil15th - 19th June 20202nd July 20203rd July 202011th June 2020
Capital Hotel PlcN0.05k26th March 2020Nil20th - 24th April 202027th May 20203rd June 202017th April 2020
Sterling bank PlcN0.03k26th March 2020Nil5th - 8th May 202020th May 202020th May 20204th May 2020
Boc GasesN0.30k26th March 2020Nil8th - 10th June 202025th June 202026th June 20205th June 2020
Fidelity Bank PlcN0.20k23rd March 2020Nil20th - 24th April 202030th April 202030th April 202017th April 2020
Seplat Petroleum Dev. Company Plc0.0523rd March 2020Nil13th May 202028th May 20204th June 202012th May 2020
Julius Berger Nig. PlcN2.75k13th March 20200.0021st to 3rd June 202018th June 202019th June 202029th May 2020
Nigeria Energy Sector Fund (NESF)N75.0010th March 2020Nil20th March 20206th April 202019th March 2020
Access Bank PlcN0.40k6th March 2020Nil15th April 202030th April 202030th April 202014th April 2020
Nestle Nig PlcN45.00k28th February 2020Nil18th - 22nd May 20202nd June 20202nd July 202015th May 2020
Stanbic IBTC Holdings PlcN2.005th March 2020Nil19th - 26th March 202030th June 202018th June 202018th March 2020
Guaranty Trust Bank PlcN2.50k2nd March 2020Nil19th March 202030th March 202030th March 202018th March 2020
United Bank of AfricaN0.80k2nd March 2020Nil16th - 20th March 202027th March 202027th March 202013th March 2020
Transcorp PlcN0.01k28th February 2020Nil18th - 23rd March 202025th March 202027th March 202017th March 2020
MTN Nigeria PlcN4.97k28th February 2020Nil16-Feb-008th May 202019th May 202017th april 2020
Transcorp Hotels PlcN0.07k28th February 2020Nil13th-17th March 202024th March 202026th March 202012th March 2020
United Capital PLCN0.50k18th February 2020Nil9th-13th March 202024th March 202026th March 20206th March 2020
Infinity Trust Mortgage Bank PLCN0.035K30th January 2020Nil9th-13th March 20207th May 202014th May 20206th March 2020
Zenith bank PlcN2.50k21st February 2020Nil10th March 202016th March 202016th March 20209th March 2020
Africa Prudential PlcN0.70k25th february 2020Nil9th-13th March 202023rd March 202023rd March 20206th March 2020
Dangote Cement PlcN16.0025th february 2020Nil26th May 202015th June 202016th June 202025th May 2020

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Research Team

Research Team

Nairametrics Research team tracks, collates, maintains and manages a rich database of macro-economic and micro-economic data from Nigeria and Africa. Our analysts share some of the data collated on Nairametrics, using formats such as docs, tables and charts etc. The team also publishes research based analysis as articles on a regular basis.

Comments 156

  1. Azubogu Adaeze Ebele says:

    When is oando paying dividend?

    • Hello Ebele, how are you?

      Many people are asking the same question. In the meantime, we all wait and see.

    • Ukwubuiwe, A.J. says:

      The question, when is Oando paying dividend has remained unanswered till dated. Please let us know when it will be paid.

  2. Anonymous says:


    • Anietie okon edem says:

      I have not received dividend for over 5 years. Pls what should i do to recover all my arrears.

      • Anonymous says:

        Process e-dividend and you will always receive it automatically.

        • Florence Abayomi says:

          They have not paid my divident in full after my verification.

        • Sunday Peter says:

          I am also a shareholder of ETI shares, since then I have not seen anything or I don’t even know how it’s going

      • Anonymous says:

        Do e-divided na

      • Anonymous says:

        If you haven’t received your dividend. Two things are involved. Either you have not given a mandate for your dividend to be paid into your bank account or you do not have a CSCS Account yet. Locate a Broker so you could be put through.

      • Simon says:

        Get to your bank and get the mandate form from all your registrars then contact your broker for transfer form then submit transfer form to your broker and mandate form to your bank

      • Tarunkantichakraborty says:


    • Mark Ani says:

      What I do to dematerialise my share certificates? Please get me a good stock broking firm with an office in Calabar.

    • Micah Nwaokocha says:

      When is First Bank Plc paying dividend

  3. ThankGod Cliff Wosu says:

    Pls how can i get access to the list of the announced participants

    • Irokanjo chika Fidelis says:

      Those of us who did not receive our dividend warrant from zenith bank because we did not fill the e- mandate form on time, what do we do to get it paid?

      • Anonymous says:

        Do your E-dividend stuff and /or contact Zenith bank registrar (ie Veritas registrars). Visit the Veritas registrars website for more details and guidance.

  4. Obozuwa says:

    Have not received mine too from Nigerian brewery since last two years

  5. Eden says:

    Yes, this is absolutely a commonly used strategy. Back up the truck whenever the prices of dividend aristocrats are depressed, and reinvest dividends.

  6. Anonymous says:

    Oando plc. Please remember we invested our money. Kindly pay dividend

    • Adekunle Adenigbagbe says:

      Dear Nairametics. Please i seems not to understand the differences between Closure of registrar and qualification date. Kindly shed more light. Thanks.

  7. Kingso says:

    When is share price devalued? Is it before or after payment date?

  8. Anonymous says:

    When is GTB paying the final dividend of 2018 FY?

  9. Adeoye David says:

    ETI had not paid divident for awhile. Why?

    • Ademola says:

      Ucap’s 50k dividend per share is 22% of my cost per share. I love downtrends & pull backs😎.

      I hope FUGAZ will follow suite…

  10. Okedairo Shefiu Ayodele says:

    Please I want to be received mail anytime companies want to pay dividends

    • Shefiu Ayodele Okedairo says:

      Please I want to be receiving email alert whenever companies want to pay dividends

  11. Anonymous says:

    Please what is the easiest way to register for e dividend payments. I have not receive some of my dividend

    • Search for the registrar of the company in question and fill the required e dividend form.

    • david says:

      talk to your broker to give you dividend mandate form to fill and he will then submit it on your behave to your stock company registrar.

    • Adebayo Olayinka says:

      How can l get a broker that would advice me on secondary market dangote shares?

  12. Ademola Adejumobi says:

    Is it true that NSE or whatever body is in charge has lifted ban on payment of dividend by letter till the end of 2019? When is First bank paying dividend?

    • No it has not. First Bank is yet to release its 2018 full year results. The bank has however promised to do so on or before the 30th of April, 2019.

  13. Dr Ilemobayo Ajimisinmi says:

    Bemused games being played by registrars,cscs,companies, biometrics, account numbers of share holders are in their keep, keep tossing hapless share holders to& fro like a yooyoo?

  14. Ogochukwu says:

    how do i get my dividends from Japaul Oil & Maritime Services Plc, bought their shares in 2007.

    • Good Afternoon. You would have to contact the company’s registrars to find out if Japaul has paid dividends since then.

    • Modupe says:

      Japaul oil have not given dividend, I went their this July 2020 to collect my daughters dividend I was told the company didn’t make profit.

  15. Olowookere Philip says:

    Please, can someone tell DAAR Communication to explain why it has refused to pay dividends all these years. This should not be a way rich people should continue to defraud the public. Enough of this 419 by DAAR Communication. By

    • david says:

      Because they are not making profit all these years. check their balance sheet and see, they are on a losing streak.

  16. Victor Ugwu says:

    When is First bank holdings declaring their own bonus or divided?

  17. SHAIBU, ADIZETU . A says:

    When is Japaul Oil and Stanbic IBTC holding their AGM’S.

  18. Akinola-ige abimbola olayemi says:

    Please when is Gtb paying dividend for year 2018

  19. Anonymous says:

    Good evening ONOME. Pls, what is happening to Courtiville Business Solutions Plc. Is it that they have decided not to be paying dividend to their shareholders after making PAT or what? They should pls let us know…. and also let them know that they should start doing that no matter how small it is..

  20. Anonymous says:

    Please Nairametrics, when are we expecting dividend payment from Standard Alliance Insurance plc. I thought they said they used 2018 for shares reconstruction and will definitely pay dividend by 2019.

  21. Anonymous says:

    Pls when is Unity and Union Bank Plc declare dividend?

  22. Anonymous says:

    Pls ONOME, when is Lafarge gonna declare dividend? Reply…

    • Hi, unfortunately, Onome doesn’t work at Lafarge Africa or have such information kindly wait till the company declare a dividend. Once they do we at Nairametrics (including Onome) will be quick to inform you. Thank you.

  23. Anonymous says:

    Good evening Alfred. Pls why has Courtiville Business Solutions Plc not declared dividend 4 some years now, when and where is their AGM date.

    • A company will only pay dividend when they make money and as for their AGM, once they come out with the information will let you know with an article.

  24. Anonymous says:

    Good evening Alfred. How many times in a year can a company declare dividend?

    • Hi there. Alfred isn’t here right now…

      Note that most Nigerian companies typically pay dividends once every year. Some also do pay what they like to call “bonus dividend”.

      Meanwhile, elsewhere, companies can pay dividends to shareholders every quarter. What this means is that you could get paid four times in a year. But then again, this seldom happens in Nigeria.

      Have a good night.

    • In addition to Emmanuel said, some companies in Nigeria pay an interim dividend and a final dividend. As for bonus, it is at the company’s discretion.

  25. Akinsola Samuel .O says:

    Any information on universal insurance company pls.
    May i know the current registrar and the functioning email address?

  26. Felicia O. Kalu says:

    invested my money in ubn shares but has not received

  27. Felicia O. Kalu says:

    When will ubn declare it’s dividend like other companies?

    • Hi Felicia, Union Bank will notify the investing public once they declare a dividend. Though the bank has not declared dividend for long.

  28. MR ACHA LAWRENCE says:


  29. Anonymous says:

    Good morning, please where is the location for Aiico insurance AGM?

  30. Felix Offiong says:

    Greatings all! I have NSE stock portfolios online with Nigerian Stockbrokers but dispite submitting the E-DIVIDEN MANDATE forms (Zenith, GTB, Access Bank) . No payment has been made, same with Access-Diamond Banks merger cash consideration. Please does anyone have this experience or solution? Kindly hint. Thanks

  31. Anonymous says:

    Hi Felix. Where did you submit your e-dividend mandate form? If it’s @ d bank (ZENITH where I did mine), they scanned the e – dividend mandate forms filled immediately to the registrars & within one week, I got SMS from them. Some registrars even called me to clerify certain things. I suggest you either go do it again @ d your bank or registrar’s offices & make sure all your data are correct. I promise you, you’ll be credited & even with all your outstanding dividend.

  32. Anonymous says:

    Again Felix, Make sure you attach your passport photo..

  33. Felix Offiong says:

    Am very grateful and I’ll do as you say. Thanks.

  34. Felix Offiong says:

    Also please any ideas about the Access-Diamond Merger cash consideration.? The Registrar ( United Securities) said that they have sent the account on the e-mandate details to NIBSS platform for confirmation and that was over a month ago. Up till now, nothing. Wondering if anyone here has received the cash consideration or have similar experience. Please kindly relate. Thank you.

  35. Anonymous says:

    Hi Mr Felix. Just try do your e – mandate first as I’ve told u. If NIBSS confirms you, UNITED SECURITIES will credit your account for DIAMOND BANK consideration from ACCESS BANK. I still advice you, go to the registrars office if you have time, do your e – mandate & also tell them about the merger cash consideration. If your work does not give u time, or u’re not in LAG, do it @ d bank, call the registrars office, they ‘ll still attend to you OK. Your money is intact. So don’t panic alright..

  36. Anonymous says:

    Good evening Alfred and Emmanuel. Pls, has COURTIVILLE BUSINESS SOLUTIONS declared or about to declare dividend? I noticed their shares are going up.

  37. Anonymous says:

    Lafarge Africa ought to drop their FYE 2018 result today based on their communication to NSE. Is there a reason why the result is not out??

  38. Please why is Presco’s report not out yet?

  39. Greatwood says:

    Please has anyone heard or received GSK dividend from GTL Registrars?
    GSK had their AGM on 23rd of may and dividend to be paid on 24th of same month but their registrar GTL is neither paying the dividend nor responding to investors email.
    I emailed gtl on 27th of may and days after till today, they dont want to respond to me and they have not paid my dividend.
    Is there any problem?

  40. Anonymous says:

    Good day, has Honeywell declear Dividend for the year2019?

  41. Anonymous says:

    Has Wapic declear Dividend for the year 2019 and when and where is the location for AGM?

  42. Martin Ikpong says:

    Please send me the details.

  43. Pa. Olu. Ajayi says:

    Onome, the services, (informative and educative ) being rendered by you and team of Experts on this Nairametrics platform is highly commendable. You should keep it up.

  44. Anonymous says:

    Please does anyone know if MUTUAL BENEFITS ASSURANCE PLC has declared any dividend for year ended 2018? Please kindly inform.
    Thank you.

  45. Odufeso Olalekan says:

    Good day, the VAT not extended, please how dose it affect investors like me putting token, ist charges from the 5percent or I will b charge separately after 5percent charges? Kindly enlighten me please. Waiting for ur response thanx.

  46. Ola Ilesanmi says:

    Kindly help me to ask Wema Bank why the dividends of investors are not PAID up till now after a decade and a half year of insolvent
    Ola Ilesanmi

  47. Ola Ilesanmi says:

    I have a number of shares of NACHO and Legacy Funds but Cornerstone Registrars refused to remit my dividends to my bank account .
    I am aware of formalising e-dividend formalities which I have done as at when it commenced .
    It is equally important to note that same registrar pays my dividends in FCMB , LAFRAGE WAPCO , as well as ancient Skye bank .
    It is absolutely worrisome that the registrars in question don’t pick calls or reply mails put across their portals . They the Registrars in question have been behaving as such when they they were called City Securities , I am a clients to First Registrars , United Securities , Veritas Registrars , African Registrars , GTL Registrars ,Meristem Registrars etcatera who give normal and regular responses as requested .
    Nairametrics , you are wonderful and helpful

    • Hi Ola, sorry for the experience you have had with your registrar. I will advise you to visit their office and get things sorted out.

  48. Ola Ilesanmi says:

    I made a mistake of name in my last two posts .
    I actually mean CARDINAL STONE REGISTRARS formally called City Securities not Corner Stone
    Please .
    Thanks to Nairameyrics

  49. Ola Ilesanmi says:

    Kindly help me to ask Wema Bank why the dividends of investors are not PSID up till noe after a decade and half year of insolvent
    Ola Ilesanmi

  50. Ola Ilesanmi says:

    Alfred Akuki
    Thanks may God bless you mightily .
    Have I paid for your prompt reply ? No !
    That’s the best modern business methodology to address issues .
    I put this across in order to share my experience with Cardinal Stone Registrars .
    My issues predated era of mandate e-dividend . If not for the interest I have for a few companies I have with cardinal stone registrars , I got things sorted out with cardinal stone registrars after the Securities and Exchange Commission compelled them to do the needful .
    They are recalcitrant and very careless with investors commitment .
    I will not visit them .
    I will drag them to the Securities and Exchange Commission or Investment Tribunal and I will win them with apology from them .
    I certainly owe Naira metrics Ltd a lot of indebtedness of commendable appreciations . Thanks a great deal

    • Hi Ola, it gives us great joy that we were able to render assistance to you.

      • Soji says:

        Pls, if I want to know the what of my shaers, how can I go by it? and in case I want to sell it,how do I do it?

  51. Please presco said they will pay dividend on the 29th and yet I have not received mine, just want to know if they actually paid anybody any dividend?

  52. Anonymous says:

    Please any information about linkage Assurance Plc dividend payout for FYA 2018?

  53. Ubong Mkpesit says:

    Hi, Nairametrics. Thanks for the good work you people are doing. Please I need a mobile number or email of any of your staff I can communicate with for some business discussions. Thanks.

  54. Okunlola Toyin says:

    GT Bank and Zenith Bank just declared an interim dividend this august and it has not been included in your compilation.Thank you for the good work you have done.

  55. Ola Ilesanmi says:

    I don’t actually know what investors will return as gains as from next January if an investor pays
    1.statutory Charges on equities subscribed @ 3.9% per transaction
    2. VAT on investment 5% per transaction
    3. VAT ( the percentage yet to be declared by IFRS ) on online transactions within or outside the country . One should understand that dividends are now transmitted electronically .per dividend
    4 . You are going to pay stamp duty of #56.5 per lodgement
    5. A minimum charge of #50 for ATM maintenance .monthly .
    Company : Timber PLC
    Cost per unit : #4
    Buying 1000 units is equal to #4000
    Brokerage charge at 3.9%= #156
    VAT on investment at 5% = #200
    VAT on dividends say at 5%#200
    Stamp duty charge at #56.5
    ATM monthly service at #50
    TOTAL. #656.5
    .45kobo per share translating to #(.45×1000units) ÷ 100 = #450
    Therefore an investor’s is equal to -#246.5 !
    Even if you have your name in Forbes as a captain of industries , the above is still outside infrastructural maintenance , tariffs , EPA , staff salary etcetera that is if the above example is to be in multiple of millions , billions , trillions say for a multi national company .

    • Joseph says:

      This analysis is wrong and can be misleading.
      Brokerage charge is 1.35% of total value, while VAT is not computed on total value but on the brokerage charges.
      Using your illustration for Timber PLC, the transaction would look like this:
      Brokerage charges (1.35%) = #54
      VAT on brokerage (7.5% on Charges) = #4.05
      Stamp duty (0.075%) = #3
      Sec Fees (0.3%) = #12
      Total = #77.35
      ATM monthly service is not an NSE charge
      With a dividend of #450 and VAT of 10% being deducted = #405
      Hence, you have #327.65 profit from this #4000 investment.
      Your last comment isn’t necessary at all.
      All the best!

      • Chuks Okaonye says:

        Well, I may not be good in maths but I know when I’m making money and certainly know my numbers.. revenue, gross profit and net profit.

        I have invested about N40 million naira in our stock market since year 2001… Mainly in the banking sector. As of today, that money is remaining about 17 million naira including all the dividends received.

        Nigeria stock market is rigged and a scam to say the least.

        Likewise, the $60,000 I invested in mutual funds in USA in year 2001, today is worth almost $550,000 ..

        Anybody who have money for investment should invest in developed economies.

        • Adekunle Adenigbagbe says:

          Wow. This really got to him. So sorry for your lose Mr. Okaonye. I just started my career in the financial sector with an 100k salary and i am just contemplating on the environment to invent and saw your timely comment, i will make further research and i hope I don’t make a wrong investment. Thank you once again for the comment. I wish you the best.


    Everyday oando is the largest company in Africa. but of to now no any dividend or bonus many years ago.

  57. Fatai says:

    Pls when register say ur dividend is send to cscs and I did not buy the share from second market I buy the share at public offer pls what can I do

  58. Debby says:

    Please when is Nigerian Brewries paying dividends for the end of the year?

  59. Fortune says:

    How can I receive my dividend without going through the registrars?

  60. Ikechi Iroegbu says:

    I love the way people respond to other people question. that is so so nice please guys keep the good info going.

  61. Abimbola says:

    You can call the registrars (check for their number via their website) and ask them if you can submit your form to them via email. You can also confirm if your bank is still accepting forms for upload for the same purpose.

  62. Chinelo Ugwu says:

    Please release the list of dividends to expect this year. I always look forward to it.

  63. Chinelo Ugwu says:

    Thank you so much for responding. I appreciate.

  64. Azubogu Adaeze Ebele says:

    Is Oando progressing now or not

  65. Azubogu Adaeze Ebele says:

    Am feeling very bad about Oando for not giving dividend despite there promise last year to pay dividend this year if they are not forth coming with dividend pls let us know on time so I pull the money I invested there.

  66. Gemstone says:

    I trust zenith bank they are d highest so far in banking industry followed by Gtbank…i must que in for this year although I be ashawo.i fuck and dumb meaning I buy get my dividend n sell…I just dey wait for baba NESTLE

  67. El Et says:

    Thanks for the awesome resource placed on this page. Please the list does not scroll over to pages 2 to 6 so we are unable to really take advantage of the good work here shown. Many thanks

  68. Mr ojukwu Charles. says:

    Please my question is on IGI insurance. I invested during their private placements and till date I have not heard from them. Does it mean I have lost my money. Even up till now it has not been quoted in the stock exchange.


    for many years now. i have not being receiving divined from Access Bank.. i need help. i need their E-divined as to file and submit on line.

  70. BEN says:



  71. Mayor says:

    Pls team, the above did not capture Vita foam released results. Thanks.

  72. BEN says:

    Dear Mr. Ola Ilesanmi;


  73. Joseph says:

    Vitafoam is missing in the list

  74. Anonymous says:

    I am no longer happy with Oando the way they are treating their shareholders, for some years now they have not paid dividend despite this they built gigantic headquarters in Victorian Island and the CEO is one of the highest paid executive in Nigeria today. The SEC should look into this matter, otherwise we the shareholder will take appropriate action o

  75. Anonymous says:

    Oando had not paid dividend for some years now, shareholder seemed to be short changed On record oando within these periods built a giangatic head office in Victoria Island, on record the CEO is one of the highest paid in the in Nigeria today if is no making return why engaged in these spendings.I suggest the SEC should investigate this matter otherwise we the shareholders will take it up through legal processes.

  76. Anonymous says:

    Oando , has refused to pay dividends for the past five years. I see them investing and building up new branches. They should let us know..the money I invested as a still mine

  77. Ademola Akinsola says:

    Nairametrics previously quoted 0.25k as Access Bank plc 2019 proposed dividend, it was later changed to 0.40k after the company officially released their FY report.

    Nairametrics, where was the initial “misleading” quote gotten.

  78. Edu Oladapo says:

    @Ademola Akinsola, Access Bank declared 25k as interim dividend while 40k for final dividend for FY2019



  80. KALU, O A says:

    I paid N5,000.00 to buy Alstates Trust Bank shares. The bank folded up and my money was not refunded. What do I do? DAAR communication did an IPO many years ago.I bought the shares. Up till now no dividends. Absolutely disgusting.

  81. Emmanuel Olusegun Akerele says:

    No good things work in Nigeria, I bought UBA shares many years back from secondary market through Marriot Securities & Broker Ltd, I perfected everything, I mean, I did all documentation and even registered my CSCS Account through the company, now, when it is time for me to receive my dividend, Prudential, the company in charge of UBA now told me that they don’t have my signature, so, I have to get a form and sign it in my bank which I did and return it to them with #1,500 which I said I can’t afford. Please, is there any means to solve this issue? It’s because am thinking of notifying Nigeria Stock Exchange and other regulatory bodies. Emmanuel Olusegun Akerele.

    • Anonymous says:

      Hello Mr. Akerele

      The stock market actually works in Nigeria irrespective of some challenges which can actually be resolved. Signature confirmation is necessary if your signature becomes irregular or was not sent to the registrar along with other details at the time you bought the shares. Don’t forget you bought through your broker (secondary market) and you had no account with Africaprudential registrars previously so they need to identify you properly. There are some charges for some registrar services. So I don’t think there is need to report the registrar to anyone. Just confirm your signature with your bank and pay the prescribed fees to get the dividend and subsequent ones in the future.
      Thank you.


    Emmanuel Olusegun Akerele, currently you don’t need since your hold to panic your stocks are intact,your broke Marriot Securities would have guided u properly, i believe the registrar is claims irregular signature which you have to regularize it with your bank, you can get paid or you simply apply for change in signature but which would demand for the old one that you aren’t sure of. Simply get your signature regularized with you bank.

  83. Okweri Moses Jonah says:

    When is First Bank Nigeria plc, likely to hold their AGM for 2019 financial ending. As share holder,based on their performance do we expect dividend payments

  84. Adegboyega Adedeji Olaoluwa says:

    I have not received any dividend for the past 10years. Kindly help out

  85. Anonymous says:

    Why nothing heard about ECOBANK dividend for this long?

  86. Joseph pwajok says:

    UBA could not pay their shareholders yesterday 27 of March 2020 their dividend. Please, when are they paying what’s due?

  87. Joseph pwajok says:

    You guys are doing a very good work, God bless you for the good information you are passing. The corona virus pandemic has so affected global economy and it’s my believe that solution will come soon by the grace of God.

  88. Anonymous says:

    hello please its over 10 years i bought my shares i need help … how do i go about it thanks

  89. Anonymous says:

    For the past seven years. I haven’t gotten any of my dividend from all the stocks I bought. What do I do? I even opened CSS account and still nothing.

  90. Stan says:

    Hi guys,
    You are doing a fantastic job, kindly keep it up.
    Please update your dividend payment day for some companies who have not complied with the stated dates.
    For example, UBA and it’s affiliates.
    Please how can I contact INVESTMENT and ALLIED COMPANY


    Good evening, please when last did japaul oil declare dividend?

  92. Seye says:

    Can we reconfirm the dates

  93. Iliyasu Isah Muhammad says:

    I’m invested my money in Habib bank plc, since 2008, I have not receive any dividend yet. What is wrong please.

  94. Jafaru Samuel O says:

    Good day. Some of us who are investors in UACN are worried over the delay in the release of the company’s audited 2019 accounts. The shares have been falling due to the delay

  95. Michael Adeyemi Onaderu says:

    Is there any archive where I can trace shares I have with Nigerian companies? I misplaced my stock file.

  96. Jacintha says:

    Please I would like to know if you must purchase shares with the T+3 rule or you can purchase anytime before the qualification date??

  97. Eleruweere muflihat Ajoke says: