Nigerian Exchange Group Plc has announced the approval of a final dividend of N2 per ordinary share of 50 kobo each for its registered shareholders.
This decision was approved during the company’s 64th Annual General Meeting and was officially communicated in a release published on the group’s disclosure page, signed by the company secretary, Izuchukwu Akpa.
The disclosure also highlights the adoption of the company’s Audited Financial Statements for the fiscal year ended December 31, 2024, and the reports of the Directors, Auditors, Board Evaluation Consultants, and the Audit Committee.
Furthermore, the Board of Directors was authorized to determine the remuneration of the auditors, Ernst & Young, for the year ending December 31, 2025, as well as to disclose the remuneration of the company’s managers.
Re-election and appointments:
During the recent Annual General Meeting, the following directors retiring by rotation were re-elected: Mr. Nonso Okpala, Mrs. Fatima Wali-Abdurrahman, and Mrs. Mosun Belo-Olusoga.
In accordance with Section 404(3) of the Companies and Allied Matters Act 2020, the company also established an Audit Committee to serve until the next Annual General Meeting.
- This committee consists of shareholders Mr. Samuel O. Adejumo, Mr. Peter O. Eyanuku, and Mr. Samuel Ayininuola, alongside independent non-executive directors Mrs. Ojinika Olaghere and Dr. Okechukwu Itanyi.
Performance:
Nigerian Exchange Group Plc (NGX Group or the Company) published its audited financial results for the year ended December 31, 2024, reporting a profit before tax (PBT) of N13.6 billion, which is a 157.3% increase from the previous year.
The growth was attributed to revenue increases, cost management, and greater market participation. Gross earnings rose by 103.2%, reaching N24.0 billion in FY 2024, compared to N11.8 billion the previous year.
The solid result was driven by growth in key revenue streams:
- Transaction fees increased by 64% due to heightened market activity.
- Listing fees surged by 397.1% from stronger capital market participation.
- Technology-related income grew by 105%.
- Other fees rose by 174.8%.
- Treasury investment income climbed by 45.6% through effective asset management.
- Market data revenue increased by 100.5%, contributing to a 102.6% rise in other income, now 29.6% of gross earnings.
