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Business News of Saturday, 4 December 2021

Source: www.legit.ng

Dangote Cement and MTN shareholders hit jackpot as firms pay N494bn in dividends

Africa's richest man, Aliko Dangote Africa's richest man, Aliko Dangote

Stakeholders of the leading cement manufacturing company, Dangote Cement and MTN, Africa’s leading telecom company, are smiling to the bank as the companies emerged as the best dividend-paying companies in 2021.

Available statistics say that Nigerian firms paid a total of N989 billion as dividends from January to September this year. This represents a 27 per cent spike from the same period last year.

MTN Nigeria shareholders lose N386.7bn in eight hours after the announcement of a public offer as Dangote gain

Among them are 30 of some of the most capitalised companies on the Nigerian Stock Exchange which paid shares this year and in 2020.

In this year, Dangote Cement paid about N272 billion in share dividends while MTN followed with a total of N212.7 billion. MTN share shareholders saw a 23 per cent hike in dividends payments, according to Nairametrics.

No other organisation was able to pay close to N100 billion in dividends this year.

Here are the foremost-paying dividend companies

Zenith Bank and GTCO paid N94.2 billion and N79.5 billion in dividends during the year, while BUA Cement rounded up the top 5 dividend payers with N70 billion paid put. Stanbic IBTC, Access Bank and Nestle paid N54 billion, N30.2 billion and N27.5 billion respectively. Lafarge and Seplat completed the top 10 dividend payers with N24.7 billion and N23.1 billion respectively.

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