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54 Quoted Firms Yet To Pay Dividends In 5 Years – Investigation

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IMAGE: NSE Building »

Fifty four companies listed on the Nigerian Stock Exchange (NSE) have not paid dividends to their shareholders in the last five years, according to information obtained from the NSE.

The figure represents 28.13 per cent of the 192 companies listed on the daily equity page made available by the Exchange.

According to LEADERSHIP investigation, the 54 companies that have not been paying dividends are spread across different sectors of the NSE, with some of them yet to pay dividends for over 10 years. These companies are yet to return any money to shareholders who have invested in the growth of the quoted companies. Under the Alternative Securities Market (ASeM), out of the 10 companies listed on the sector, seven have not paid dividends to their shareholders.

Livestock Feeds Plc listed under agriculture sub-sector paid dividend last in 2001, while John Holts Plc under Conglomerate sub-sector paid dividend last in 2005.

Under the Construction/Real Estate sub-sector, Arbico Plc and Cappa & D’Alberto paid dividends last in 1998 and 2008. Of the the seven quoted companies in the Beverages/Brewers/Distillers sub-sector, for instance, three have not paid dividends for up to 15 years.

According to information gleaned from the NSE daily equity page by LEADERSHIP, Champions Breweries Plc last paid dividends in 1986; Golden Guinea Breweries Plc, 1997; and Premier Breweries Plc, 1995.

Article Credit: Leadership Newspaper

Updated 5 Years ago

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