CSCS Shareholders Okay 17.3% Rise in Dividend Payout to N8.8bn

The board of the firm proposed the payment of N8.8 billion as cash reward to investors for the year under review compared with the N7.5 billion paid a year earlier, translating to a dividend of N1.76 per share, up from N1.50 in 2023.

Speaking at the 31st Annual General Meeting (AGM) of the organisation in Lagos, the Chairman of CSCS, Mr Temi Popoola, highlighted the company’s robust financial performance in 2024, emphasising its ability to convert revenue growth into solid bottom-line despite inflationary pressures and currency headwinds.

He attributed this resilience to increased capital market trading activity, favorable yields in the fixed income market, and foreign exchange gains, alongside the growing demand for CSCS’s expanding suite of services.

Mr Popoola, who doubles as the chief executive of the Nigerian Exchange (NGX) Group Plc, addressed the potential impact of ongoing tariff tensions on global capital markets but expressed confidence in Nigeria’s economic outlook for the year 2025.

He noted that structural reforms such as fiscal discipline, infrastructure investment, and improved ease of doing business are laying the foundation for sustained growth and stronger investor confidence.

Mr Popoola also noted that tariff adjustments could stimulate local industry development, fostering innovation and creating new value chains.

On his part, the chief executive of CSCS Plc, Mr Haruna Jalo-Waziri, provided shareholders with a comprehensive overview of the business landscape, noting the complexities of the global economy in 2024 and the specific challenges faced in Nigeria, including high inflation, naira devaluation, and rising borrowing costs.

He examined that despite these challenges, the economic impact of robust government spending, a stronger services sector, and improved oil revenues, supported by favorable global oil prices and a weaker Naira, could translate to positives.

Mr Jalo-Waziri also emphasised the central role of innovation in CSCS’s strategy, noting the successful launch of the CSCS Chatbot for real-time, 24/7 customer support and the rollout of the Debt Management Office (DMO) Portal.

Business Post reports that the portal developed in collaboration with the debt office, streamlines the subscription process for FGN Savings Bonds, making it faster, more transparent, and more user-friendly for a broader investor base.

During the AGM, shareholders also confirmed the election of Mrs Aisha Muhammed-Oyebode and Mrs Bola Adesola as Independent Non-Executive Directors, alongside the re-election of Mrs Chinelo Anohu and Mr Ibrahim Dikko in similar roles.