In a remarkable achievement, Nigerian Exchange Group Plc (NGX Group) has proposed a record dividend of N4.4 billion, marking a significant milestone in the company’s financial performance. This proposal comes as the Group reported a 157.6% increase in profit before tax (PBT), which rose to N13.5 billion in the 2024 financial year. The N2.00 per share dividend is the highest payout in NGX Group’s history, reflecting the company’s commitment to maximizing value for its shareholders.
NGX Group’s strong performance was driven by impressive revenue growth across its various business segments. Gross earnings surged by 103.2% to N24.0 billion, up from N11.8 billion the previous year. Key revenue drivers included transaction fees, which rose 64.0%, and listing fees, which skyrocketed by 397.1%. Additionally, technology-related income grew by 105%, and treasury investment income climbed by 45.6%, highlighting the Group’s robust market participation and strategic cost optimization.
The Group’s Chairman, Alhaji Umaru Kwairanga, emphasized the pivotal nature of these results, particularly after NGX Group’s post-demutualisation phase. He reiterated the company’s focus on rewarding investors and strengthening the capital market, with plans to continue investing in market infrastructure and innovation. This long-term vision aims to enhance NGX Group’s position as a key driver of capital market development in Nigeria.
Furthermore, NGX Group’s CEO, Temi Popoola, highlighted the company’s operational excellence and strategic focus, which contributed to the 157.3% rise in profit before tax. By leveraging technology, expanding market data solutions, and fostering partnerships, NGX Group aims to remain resilient and achieve sustained growth. The Group is committed to supporting economic growth in Nigeria and across Africa by enhancing financial inclusion and providing diverse investment opportunities.
SOURCE: LEADERSHIP