MTN Nigeria Plc, Okomu Oil Palm Plc, Seplat Energy Plc, BUA Cement, and Zenith Bank Plc are top among 18 NGX-listed companies that are paying dividends in May 2026.
This is according to the corporate disclosures filed by the companies with the Nigerian Exchange (NGX) and compiled by Nairalytics, the research analysis unit of Nairametrics.
MTN and Okomu Oil propose to pay a final dividend of N15 per share each company, Seplat Plc is paying about N12.60 per share for the first quarter (Q1) 2026. BUA Cement Plc has proposed a N10 per share dividend, slightly higher than N8.75 per share final dividend by Zenith Bank.
Spanning banking, telecoms, industrial goods, oil and gas, and financial services, the dividend-paying firms highlight a broad-based distribution of profits despite prevailing macroeconomic challenges.
Here’s a breakdown of the companies and their dividend payouts:
Seplat Energy will pay Q1, 2026 $0.09 per share on May 29, 2026, continuing its policy of dollar-denominated dividends, which offers a hedge against currency volatility.
The first quarter (Q1) USD 9.0 cents per share dividend consists of USD 5.0 c/share core and USD 4.0 c/share special dividend, translating to a total cost of approximately $54 million.
The declared dividend, which is contained in Q1, 2026 financial results filed with the NGX, indicates an increase by 8% quarter-on-quarter (Q-o-Q) and up 96% year-on-year (YoY).
At the exchange rate of N1,400 per Dollar, USD 0.9 cents translates to about N12.60 per share dividend for the Q1, 2026. However, the 5 cents core dividend is for ordinary shareholders, which will be paid by May 29.
In its Q1, 2026 financial statement, Seplat reported profit after tax (PAT) of $37.9m, up from $23.3m Year-on-Year with cash generated hitting $243.4m in the first three-month period on increased production averaging 129,841 barrels of oil equivalent per day (boepd), up 9% since 4Q 2025 (119,200 boepd).
Gross profit for the period stood at $370.5m. Adjusted EBITDA of $371.3 million (44% margin), down 7% vs prior year (1Q 2025: $400.6 million), implying that it earned slightly less than it did last year, even though margins remain solid
EBITDA measures how much profit a company makes from its core business, before removing taxes, interest, and one-off costs. It gives a clearer picture of day-to-day performance.
Seplat made $371.3 million from its core operations, and the 44% margin means that for every $1 it earned in revenue, it kept about 44 cents as operating profit. However, this is 7% lower than last year, when it made $400.6 million.
Despite the slight dip in performance, the margins remain solid, which is why the company declared an improved dividend for Q1 2026.
In its audited results for the twelve months ended 31 December 2025, Seplat declared a total dividend of USD0. 25 cents per share, translating to $150 million and a 52% increase on 2024, reflecting the strength of the balance sheet, strong underlying free cash flow generation and continued confidence in our outlook.
