The dividend season on the Nigerian Exchange continues with renewed momentum as several listed companies, including Wema Bank Plc, Aradel Holdings Plc, and Champion Breweries Plc, close their shareholder registers this week to finalise dividend payments for the 2024 financial year.
According to the latest Afrinvest Corporate Actions Update for the week of May 5, 2025, Wema Bank is offering shareholders a ₦1.00 per share dividend, representing a 7.5% yield—the most attractive among the companies closing books this week.
Aradel Holdings Plc, a key upstream player in Nigeria’s independent oil and gas sector, declared a substantial final dividend of ₦22.00 per share (4.9% yield). Also joining the dividend trail is Champion Breweries Plc, with a ₦0.06 payout translating to a 1.1% yield.
Other firms finalising dividend entitlements include Meyer Plc (₦0.30, 3.2%) and UPDC Plc, a major real estate developer, offering ₦0.15 at a 1.7% yield.
Payments This Week: NASCON, VFDGroup Reward Shareholders
This week will also see actual payments made by NASCON Allied Industries Plc (₦2.50, 4.0% yield) and VFD Group Plc, which is distributing a strong ₦5.00 per share dividend with an impressive 14.0% yield, reflecting its solid performance in the financial services and investment sector.
Last week, NEM Insurance Plc closed its register for a ₦1.00 dividend at a healthy 6.7% yield. Shareholders of Zenith Bank Plc, Fidelity Bank Plc, The Initiates Plc (TIP), and FCMB Group Plc also received dividends ranging from 2.2% to 8.6%.
GTCO and UBA Dominate Dividend-Paying Stocks in Nigeria
A snapshot of Nigeria’s most rewarding dividend stocks places Guaranty Trust Holding Company Plc (GTCO) at the top with a 11.0% yield, followed by United Bank for Africa (UBA) and MPFMCG, each offering 8.6%. Other high-yield players include NAHCO (7.2%), NEM Insurance (7.0%), and Zenith Bank (8.6%).
These consistent payouts underscore investor confidence in companies that maintain robust earnings and efficient capital structures.
Outlook: Dividend Stocks Retain Investor Appeal
The flurry of dividend announcements points to sustained profitability across several sectors, particularly in banking, financial services, and select consumer and industrial goods firms. As FX pressures ease and corporate fundamentals improve, investors are likely to continue favouring high-dividend-paying stocks in Nigeria for steady returns in a volatile macroeconomic environment.
