Stock Market
Listed companies on NGX paid N1.1trn dividends in 2024—SEC
Securities and Exchange Commission (SEC) has said that listed companies on the Nigerian Exchange Ltd. (NGX) declared N1.1trn dividends to shareholders in 2024. The director-general of SEC, Emomotimi Agama, said in a statement on Sunday that N1 trillion had already been paid to shareholders out of the N1.1 trillion declared. According to him, this reflects improved market confidence and investor returns. He said the commission, between January and December 2024, had approved N3.68 trillion in new issues. “This comprised N59.82 billion in fixed-income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market. For the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38 billion.
“Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities,” he said. Speaking on mergers and acquisitions, Mr Agama said the commission in 2024 approved 11 transactions with an aggregate value of N320.36 billion. “Most notable of these was the acquisition of a 58.02 per cent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion. There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities. Among the notable corporate restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which saw a one-for-four share consolidation amounting to N5.08 billion,” he said.
He said the commission had approved three major transactions year-to-date worth N38.53 billion. “This includes two takeovers and one corporate restructuring. While no mergers have been recorded within the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors. These activities reflect continued strategic realignments within the market,” he said. On collective investment schemes, Mr Agama said it recorded robust expansion with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024. Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unitholders. Privately managed portfolios and products grew to 444 vehicles with assets under management totalling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments. These figures reflect a maturing market where professional fund management is increasingly recognised as a critical driver of capital formation and wealth creation. These figures are indicative of sustained activity in the market, particularly as issuers continue to leverage both the debt and equity segments to finance growth and investment,” he said.
NGX market capitalisation inched up on Thursday as equity investors gained more than N92 billion in a wide price upswing that has lasted for three days. Trading activities closed on a positive note, and the bargain hunting boosted key market performance indicators by 0.10%. The stock market index, or the All-Share Index, increased by 152.28 basis points, or 0.10%, to close at 145,476.15 basis points.
Also, NGX market capitalisation climbed by ₦97.06 billion to close at ₦92.73 trillion. Despite the negative breadth, the market rally reflects investors’ continued caution in the stock market. Stockbrokers reported buying interest in selective stocks including OANDO, WAPIC, UACN, TRANSCORP, GTCO, and others across all sectorial indexes.
In contrast, market activities inched lower as the total volume of all trades and their combine value by -14.15% and -8.47% respectively. Today, approximately 1,932.45 million units valued at ₦19,192.53 million were transacted across 23,369 deals.
FIDELITYBK was the volume driver, accounting for 9.04% of all stocks volume executed in the local bourse, followed by GTCO (8.25%), ZENITHBANK (7.90%), ETI (6.38%), and ACCESSCORP with 5.16%.
GTCO topped value chart, accounting for 19.52% of total value of all trades executed on the exchange – the highest traded on the exchange.
UACN led gainers chart, up by +10.00%, trailed by MORISON (+9.94%), ETI (+8.53%), WAPIC (+8.47%), MANSARD (+7.75%), FTNCOCOA (+7.10%), and seventeen others.
A total of twenty-eight (28) stocks depreciated, according to market report released by Atlass Portfolio Limited. With a price depreciation of -10.00%, ELLAHLAKES and EUNISELL both topped the worst performers’ chart, followed by TRANSCOHOT (-9.95%), OMATEK (-9.23%), GUINEAINS (-8.46%), and CAP (-6.16%).
Hence, the market breadth closed on a negative note, as there were 23 gainers and 28 losers. The sectoral performance was positive, as all five major market sectors appreciated. The insurance sector led with an increase of +1.56%, followed by the banking sector (+0.91%), the industrial goods sector (+0.48%), the consumer goods sector (+0.28%), and the oil & gas sector (+0.08%).
Nigerian Exchange (NGX) continued its upward trajectory on Wednesday, with the All-Share Index climbing by 0.27% to reach 145,323.87 points. NGX market capitalisation rose to ₦92.38 trillion as equities investors gained N252 billion. The market demonstrated positive momentum, reflected in a breadth ratio of 1.9x, with 30 stocks posting gains compared to 16 that declined, stockbrokers said. The bullish momentum was fuelled by interest in some oversold stocks across key sectors. Among the top performers were GUINNESS, NCR, NGXGROUP, MULTIVERSE, and SKYAVN, while VERITASKAP, LASACO, PRESTIGE, ROYALEX, and ETI experienced the most significant declines.
Stockbrokers also noted positive price movement in BUACEMENT, UBA, GUINNESS, WEMABANK, STERLINGNG, among others. The All-Share Index added 395.51 basis points to close at 145,323.87 basis points. Trading metrics presented contrasting patterns as the volume of shares traded jumped dramatically by 271.27% to 2.25 billion units, and the number of transactions increased 45.45% to 21,513 deals. Conversely, the total value of transactions dropped 47.17% to ₦20.97 billion. ACCESSCORP emerged as the most traded stock, accounting for 13.60%, followed by ZENITHBANK (13.17%), GTCO (8.70%), STERLINGNG (6.27%), and FIDELITYBK with 5.25%.
ZENITHBANK topped the value chart, accounting for 20.54% of the total value of all trades executed in the local bourse. GUINNESS led the performers chart, gaining +10.00%, trailed by NCR (+9.98%), NGXGROUP (+9.96%), MULTIVERSE (+9.95%), SKYAVN (+9.74%), OMATEK (+5.69%), and twenty-four others. A total of fifteen (15) stocks depreciated, according to data obtained from the local bourse. With a price depreciation of -4.47%, VERITASKAP topped the worst performers’ chart, followed by LASACO (-3.77%), PRESTIGE (-3.03%), ROYALEX (-2.56%), ETI (-1.88%), and CORNERST (-1.75%). Hence, the market breadth closed on a positive note, as there were 30 gainers and 15 losers, stockbrokers reported.
Sector performance showed varied results: the Banking sector led with a 0.65% gain, followed by Industrial Goods which rose 0.47%; Consumer Goods up 0.38%; and Insurance advancing 0.27%. In contrast, the Oil & Gas sector fell 0.47% and Commodities declined 0.24% Ikeja Hotels hits highest valuation in 52 weeks gaining 45 per cent
The NGX All-Share Index fell by 0.14 per cent to 143,520.53, while market capitalisation closed at N91.286 trillion for the week.
This, compared with 143,722.62 points and N91.415 trillion recorded in the previous week, reflects weaker sentiment across the market.
Investors “lost about N129 billion this week as profit-taking continued across major counters”. Most indices closed lower, except NGX CG, NGX Premium, NGX Banking, NGX Pension, NGX AFR Div. Yield, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value, NGX Lotus II, NGX Growth and NGX Sovereign Bond.
These indices appreciated between 0.01 per cent and 0.94 per cent, showing selective interest in defensive stocks. Turnover rose to 4.140 billion shares worth N115.889 billion in 102,351 deals, higher than 2.668 billion shares valued at N106.264 billion last week.
The financial services industry led activity with 3.358 billion shares worth N81.175 billion in 43,392 deals.
This represented 81.10 per cent of total volume and 70.05 per cent of total value traded during the week.
The services industry followed with 148.272 million shares worth N1.319 billion exchanged in 7,181 deals. The consumer goods sector placed third with 143.638 million shares worth N7.988 billion in 12,099 trades.
Cornerstone Insurance, GTCO and Access Holdings accounted for 2.005 billion shares worth N47.535 billion in 10,185 deals.
These three stocks contributed 48.43 per cent of total turnover volume and 41.02 per cent of total value.
Thirty-eight equities gained during the week, up from 20 recorded previously, while 36 declined, compared with 60 in the prior week.
Seventy-three equities remained unchanged, higher than 67 posted in the previous trading week. Ikeja Hotel, NCR Nigeria, UACN, CWG and Veritas Kapital emerged top gainers, advancing by N9.40, N13.55, N8.90, N1.90 and 18k, respectively.
Meyer, Sunu Assurances, UPDC, Tantalizer and Abbey Mortgage Bank topped the losers’ chart, shedding N3.05, 68k, 68k, 26k and 65k, respectively.
The NGX disclosed the listing of 243,424 additional units of the Chapel Hill Denham Nigeria Infrastructure Debt Fund.
It said, “The additional units arose from the Fund’s 2025 Q3 scrip dividend distribution to qualifying holders.”
The NGX added that the Fund’s total units have increased to 1,056,257,953 following the fresh listing.
The exchange also confirmed the extension of VFD Group’s Rights Issue following SEC approval. It said trading in the company’s rights “will now close on Friday, December 26.”
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