Fourteen of the listed companies that have so far released their full year annual results would pay a total sum of N896 billion to its teeming shareholders as dividends for 2019.
Audited accounts started to trickle in, penultimate week, with companies proposing dividend payments to their shareholders as recommended by their respective boards of directors.
A breakdown of the payments indicate that telecommunication giant, MTN Nigeria, leads the pack with a total dividend payout of N281.5billion; closely followed by Dangote Cement with N272.6 billion.
Shareholders of MTN Nigeria and Dangote Cement account for N558.1billion out of the total dividends of N896 billion, translating to 62 percent of the total dividend payout.
MTN Nigeria, for instance, had an improved revenue line of N122billion and returned the highest growth of N61billion on previous year profit.
Dangote Cement, on the other hand, saw a drop in revenue by N8billion (2019:610bn, 2018: N618bn) as well as a drop in PAT (2019: N390bn, 2018: N200bn).
A further breakdown of the dividend payment indicates that shareholders of Zenith Bank PLC will take home N87billion, followed by shareholders of Guarantee Trust Bank PLC with N82.4billion.
Also, shareholders of Nestle PLC get N55billion, United Bank for Africa get N34billion, Stanbic IBTC get N31billion, Access Bank get N23billion and Nigerian Brewery get N12billion.
Others are Transcorp Hotels with N5billion; Transcorp Plc get N4billion; United Capitals get N3billion; Infinite Trust Mortgage Bank and African Prudential get N1.4billion respectively.
Daily Trust reports that shareholders of the 12 companies stated above (excluding MTN Nigeria and Dangote Cement) will pocket a combined N340billion which translates to 38 percent.
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