NGX Group Plc announces dividend pay-out ratio range of 25% and 75% to its shareholders

Adebayo Obajemu

The Nigerian Exchange Group Plc (NGX) in its recently released dividend policy guideline has said that the dividend payable in cash to its shareholders in a year shall be between pay-out ratio 25% and 75% of the distributable profit of same year to which the Dividend is applicable.

According to the guideline, the Board may recommend a scrip (bonus) issue in any year and in any ratio as it deems fit for any year through the capitalization of any undistributed Retained Earnings.

Dividend shall be paid to shareholders after deduction of withholding tax at the prevailing rate currently fixed at 10% based on the existing tax legislation.