Telcos, banks are dividend kings in Nigeria
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 an excellent way to make money, as it offers both regular income and the potential for your investment to grow over time.
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 stable finances usually pay significant dividends. Investing in these companies 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.