Nigeria’s equities market dividend season is entering its busiest period, with some of the Nigerian Exchange’s (NGX) biggest listed companies set to convene shareholders between May 14 and the end of the month for Annual General Meetings (AGMs).
This is according to the NGX Group official filings of 16 companies with Seplat Energy Plc, BUA Cement, Okomu Oil Palm, Nigerian Aviation Handling Company Plc, and Stanbic IBTC Holdings leading the list of upcoming AGMs this month.
Shareholders of these blue-chip companies are expected to approve multi-billion-naira dividend payouts, bonus share issues, board changes and other strategic corporate resolutions as investors position for some of the largest shareholder rewards declared this earnings season.
Compiled from NGX corporate disclosures, company filings, and registrar notices, the AGM calendar shows that dividend-paying companies are not only rewarding shareholders with cash payouts but also deploying bonus share issues and special dividends to reinforce investor confidence.
Here is a list of the meetings, spanning banking, oil and gas, industrial goods, aviation, agribusiness and financial services, amid improving corporate earnings.
Nigerian Aviation Handling Company Plc will hold its AGM on May 15, 2026, in Lagos, where shareholders are expected to approve both a N6.25 cash dividend and a bonus issue of one new share for every seven (1-for7) shares already held.
The aviation handling company is one of the few major NGX firms proposing bonus shares this AGM season.
The combined cash-and-stock reward are subject to formal shareholder approval at the May 15, 2026 AGM.
A 1-for-7 bonus issue means that for every seven shares an investor holds, they receive one additional free share — effectively a capitalisation of retained earnings into new share capital.
For existing shareholders, it increases their total holding without additional cost, while simultaneously signalling management’s confidence in NAHCO’s growth trajectory as Nigeria’s aviation sector continues to recover and expand.
NAHCO’s performance in 2025 was driven by increased aviation traffic volumes, higher cargo handling throughput at Nigeria’s major international airports, and improved ground handling contract revenues.
The combination of a healthy N6.25 cash return and a free share allocation makes NAHCO’s AGM one of the most shareholder-generous events of the entire month.
