2025FY: Dangote Cement, GTCO, Others to Reward Shareholders N3.2trn Dividend
Kayode Tokede
Shareholders of Dangote Cement Plc, Guaranty Trust Holding Company Plc (GTCO), BUA Foods Plc and 10 other companies listed on the Nigerian Exchange Limited (NGX) are set to receive a combined dividend payout of N3.2 trillion for the 2025 financial year.
This represents about 131.8 per cent increase over N1.36 trillion paid in 2024 financial year.
The 2025 significant growth in dividend payout is on the backdrop of improved economic indicators that translates into strong corporate earnings for listed firms and improved capital gains for investors.
THISDAY analysis of their financial results showed that they reported a combined N7.63 trillion profit before tax in 2025 financial year, about 109 per cent increase over N3.6 trillion reported in 2024.
The dividend distribution to shareholders for 2025, compiled from company filings and corporate disclosures on the NGX, highlights robust profitability across key sectors, including banking, cement, consumer goods, telecommunications, and energy.
With about 109.2 per cent increase in profit before tax to N1.53 trillion in 2025, Dangote Cement Plc leads the dividend chart with N759.31 billion dividend payout in 2025, about 50per cent growth over N506.21 billion paid to shareholders in 2024.
The cement maker saw its share price also recorded strong gains during the year, supported by revenue growth driven by government and individual infrastructure demand and product price adjustments.
BUA Foods Plc also recorded a strong outing as its dividend payout moved from N234 billion in 2024 to N504 billion in 2025.
The agro-allied company generated a profit before tax of N521.53 billion iin 2025, up by 83 per cent from N284.3billion reputed in 2024.
The profit growth is a reflection of strong consumer demand and pricing power, which also supported bullish sentiment in its equity valuation on the Exchange.
Guaranty Trust Holding Company Plc (GTCO) came third with N466.38 billion dividend payout to shareholders in 2025, up by 70.13 per cent from N274.14 billion paid in 2024.
Despite a 2.7 per cent drop in profit before tax, the management of GTCO maintained the culture of rewarding shareholders as its stock price in 2025 attracted investor interest amid the just concluded Central Bank of Nigeria (CBN) new minimum capital requirement.
Also, MTN Nigeria Communications Plc to reward shareholders N419.91 billion in dividends, with its share price buoyed by increased data consumption and revenue expansion. The telecommunication in 2024 did not reward shareholders return on investment, attributable losses caused by foreign exchange unification policy of the CBN.
Other major contributors include Zenith Bank with total dividend of N410.7 billion in 2024 from N156.98billion in 2024 and BUA Cement with N338.6 billion dividend payout in 2025 from N69.42 billion paid in 2024 to shareholders.
Wema Bank Plc declared N221.9 billion profit before tax in 2025 from N102.52 billion in 2024 rewarded shareholders with a dividend payout of N50.15 billion in 2025 from N21.43 billion in 2024. Amid significant increase in profit, the management of Wema Bank has proposed a dividend per share of N1.25 for 2025 financial year.
Wema Bank’s Managing Director/Chief Executive Officer, Mr. Moruf Oseni, reiterated the Bank’s unwavering commitment to sustaining its impressive growth momentum and delivering superior value to all stakeholders.
He noted, “Wema Bank has delivered one of the strongest growth trajectories in its history. From a Profit Before Tax of N14.75 billion three years ago, we grew to N43.59 billion in 2023 and reached N102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a Profit Before Tax of N221billion. This performance reflects disciplined execution, a resilient business model, and the unwavering commitment of our people.”
Lafarge Africa Plc declared N16.11 billion, while Unilever Nigeria Plc and Geregu Power Plc paid N21.54 billion and N22.5 billion, respectively, with their stocks reflecting moderate but steady appreciation. Mid-tier and smaller capitalized companies also delivered a combination of dividend income and capital gains.
Transcorp Power Plc declared N41.25 billion, United Capital Plc paid N18 billion, and Transcorp Hotel Plc posted N13.3 billion.
Capital market analysts noted that beyond the cash payouts, investors have also benefited from significant price appreciation in the shares of many of these companies, reinforcing total shareholder return.
Market analysts expressed that the scale of dividends, alongside sustained upward movement in share prices, underscores the resilience of listed firms despite macroeconomic challenges such as inflationary pressures, exchange rate volatility, and elevated interest rates during the year.
