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Headline : Nigeria : Banks declare massive dividend payouts amid capital raise

Read more from the original article on here at www.african-markets.com.




Tags : #nigeria #banks #declare #massive #dividend #payouts #amid #capital #raise



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Recent dividend announcements by major Nigerian banks have highlighted a complex interplay between shareholder returns and Central Bank of Nigeria (CBN)โ€™s recapitalization requirements.

Despite the CBNโ€™s push for a hefty capital raise, banks are not shying away from returning capital to their shareholders.

Nairametrics has tracked data indicating that six major banks, which have recently published their 2023 audited accounts, are set to pay out a combined N379 billion in dividends in the coming months. This compares to N289.1 billion declared as final dividends a year earlier (+31.3%).

When interim dividends are added to the 2024 figures, it escalates to N465.3 billion.

Read more from the original article on here at www.african-markets.com.


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