Three companies listed on the Nigerian Exchange (NGX) will pay dividends ranging from N1 to N4.50 per share in the fourth quarter of 2026, with qualification dates scheduled for October.
Nairametrics Research analyzed corporate disclosures filed by the companies with the NGX, covering dividend per share, dividend type, qualification date, AGM date, payment date and e-dividend registrar.
The qualification date determines which shareholders are recorded on a company’s register and are therefore eligible to receive a declared dividend. Investors whose names appear on the register as of the relevant qualification date qualify for the payout, subject to the terms of the corporate action.
The three payouts comprise two interim dividends and one final dividend, with the companies drawn from the banking and consumer goods sectors.
The three companies will pay dividends ranging from N1 to N4.50 per share, with PZ Cussons Nigeria paying a final dividend while Guaranty Trust Holding Company and Stanbic IBTC Holdings will pay interim dividends. Qualification dates fall within six days of each other, while payment dates are spread over 24 days.
First Registrars is handling e-dividend registration for PZ Cussons Nigeria and Stanbic IBTC Holdings, while DataMax Registrars is handling GTCO’s registration.
The schedule means investors seeking eligibility must pay particular attention to the October qualification dates rather than only the later payment dates.
Although the three companies are paying dividends within the same quarter, they are entering the payment period from different earnings positions.
The varying results show that the Q4 dividend declarations reflect different combinations of earnings strength, balance-sheet recovery and payout decisions.
Stanbic IBTC’s N4.50 interim dividend is the largest per-share payment among the three companies and is 80% higher than the N2.50 interim dividend paid in the corresponding period last year.
The three companies therefore offer different payout profiles. PZ Cussons currently has the highest yield on the dividend declared, but the comparison with Stanbic IBTC and GTCO is not like-for-like because both banks are paying interim dividends and could declare additional final dividends.
Stanbic IBTC nevertheless offers the highest current dividend per share alongside strong profit growth.
