Telcos and Banks: Highest Dividend-Paying Firms in Nigeria
1 min Read September 13, 2023 at 11:42 AM UTC
- In 2022, 71 companies in Nigeria from different industries like banking, telecom, and consumer goods, gave out a total of over N1.5 trillion ($1.6 billion) as dividends.
- Some of the top companies on this list were Dangote Cement, MTN Nigeria, Zenith Bank Plc, and others.
- This shows that investing in the Nigerian stock market can be a good way to make money, as it offers both regular income and the potential for your investment to grow over time.
Source: African Markets
Dividends are important in stock investing because they give shareholders a steady source of extra money. Large corporations that make a lot of money and have steady finances usually pay significant dividends. When you invest in these companies, you can benefit in two ways: your shares can become more valuable over time, and you get regular dividend payouts. This year, stocks with a market capitalization of over N1 trillion have emerged as the titans of the NGX. As of August, their total market capitalization stood at an eye-watering N25.1 trillion.
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