NGX Group Declares N3.00 Dividend, 1-for-3 Bonus Issue as FY 2025 Profit Rises 44%

Kayode Tokede

Nigerian Exchange Group Plc (NGX Group) has reported strong audited results for the year ended December 31, 2025, delivering double-digit revenue growth, improved operating margins, enhanced liquidity and a significantly strengthened balance sheet.

At its meeting of February 24, 2026, the Board of Directors approved the Group’s 2025 audited financial statements, following consideration of the report of the Board Risk and Audit Committee. 

Reflecting improved profitability and capital strength, the board declared a 50 per cent year-on-year increase in total dividend to N3.00 per share and approved a 1-for-3 bonus share issue.

Strong Financial Performance

For the year ended December 31, 2025, NGX Group recorded core revenue growth of 36.0 per cent to N22.9 billion ( 2024: N16.9 billion)

• Operating profit growth of 44.4 per cent to N11.8 billion

• Profit Before Tax of N15.6 billion, up from N13.6 billion in 2024

• Earnings per share of N4.75

• A year-on-year reduction in total expenses

Revenue expansion was driven by sustained growth across core business segments, deeper customer penetration, increased investor participation and strengthening market confidence. 

Finance costs declined by 67 per cent following significant deleveraging of the Group’s balance sheet, further enhancing profitability.

Balance Sheet Strength and Capital Discipline

As at December 31, 2025, the Group maintained a solid financial position: Total assets rose to N71.0 billion (FY 2024: N68.0 billion)

• Shareholders’ equity strengthened to N55.2 billion.

The improved debt-to-equity ratio underscores a conservative capital structure, enhanced solvency profile and strong retained earnings growth, positioning the Group to support future expansion while maintaining financial stability.

Enhanced Shareholder Returns

The board approved a final cash dividend of N2.00 per ordinary share, bringing total dividend for FY 2025 to N3.00 per share — a 50 per cent increase compared to the prior year. 

In addition, shareholders will receive one (1) new ordinary share for every three (3) shares held, with a qualification date of 10 April 2026.

The combined dividend increase and bonus issue reflect a balanced capital allocation strategy — rewarding shareholders while preserving financial flexibility to fund strategic growth initiatives and market development.

Commenting on the results, the Group Chairman, Umaru Kwairanga, stated:

“Our 2025 performance demonstrates the resilience of our business model and the effectiveness of disciplined strategic execution. Strong revenue growth, improved operating margins and a strengthened balance sheet reinforce our commitment to delivering sustainable long-term shareholder value. 

“The increased dividend and bonus issue reflect the Board’s confidence in the sustainability of our earnings and the robustness of our capital position as we continue to deepen Nigeria’s capital markets. We are confident that the momentum built in 2025 will be sustained, supported by growing investor confidence and a strong pipeline of new listings that will broaden and deepen the market.”

The Group Managing Director/Chief Executive Officer, Temi Popoola, added:

“We delivered strong top-line growth and enhanced profitability in 2025 despite macroeconomic headwinds. Our 36 per cent core revenue growth, improved operating efficiency and successful deleveraging have strengthened our capital base and financial flexibility, supporting the increased dividend and bonus issuance. 

“As regulatory standards evolve, including the recent upward review of minimum capital requirements by the Securities and Exchange Commission, our robust balance sheet positions us to meet new thresholds seamlessly while continuing to invest in liquidity expansion, product innovation and market infrastructure to build a resilient, globally competitive exchange group.”

With stronger liquidity, a reinforced capital base and diversified revenue streams, NGX Group remains well positioned to sustain its growth trajectory and deliver long-term value to shareholders and stakeholders alike.