One of the strongest forces shaping investor sentiment in the Nigerian stock market is dividend payment.
Beyond just being a financial reward, dividends often serve as a powerful signal that can swing a stock’s outlook positively.
In the first half of 2025, Nigeria’s leading dividend-paying companies returned a total of N927.63 billion in cash to shareholders, comprising both final and annual dividend payments declared within the period.
This marks a 30% jump from the N715.47 billion disbursed in the same period of 2024, reflecting a surge in shareholder rewards.
Higher dividend payouts not only highlight strong profitability but also help draw more investors into the market.
This increased participation often translates into higher trading volumes and greater liquidity.
Analysts note that Nigerian investors are motivated by more than just the potential appreciation of share prices; they are also drawn to the steady income dividends provide.
Strong payouts tend to boost investor confidence, attract income-focused buyers, and in some cases, propel a company into the premium ranks of the exchange.
With that in mind, here are the top 10 Nigerian stocks that disbursed the most cash to shareholders in H1 2025, with the ranking based solely on what was received—whether as final or annual dividends.
Wema Bank Plc followed closely at 9th place, paying out N21.43 billion in H1 2025.
This marked a remarkable 233.3% jump from the N6.42 billion dividend declared in H1 2024.
To deliver this payout, the bank approved a dividend of N1.00 per share, which was distributed on May 22, 2025, to shareholders on record as of May 1, 2025.
- Wema’s retained earnings leapt to N169.3 billion in H1 2025, a 64% increase from N103.2 billion in December 2024.
- Interest income soared to N240.6 billion from N146 billion, while fee and commission income nearly doubled to N45.3 billion.
With these gains, pretax profit tripled to N100.5 billion from N30.5 billion in H1 2024.
