NGX Group’s pre-tax profit hits N13.58 billion in 2024, declares record N2 dividend

According to the company’s annual report and audited consolidated financial statements for the year ended December 31, 2024, reviewed by Naijaonpoint, gross earnings more than doubled to N23.991 billion.

In recognition of this exceptional performance, the Board of Directors has approved a final dividend of N4.4 billion, translating to N2.00 per share, the highest dividend payout in the Group’s history.

The dividend will be paid to shareholders whose names appear in the Register of Members as of the close of business on Thursday, March 13, 2025.

Key highlights (2024 vs. 2023):  

Group Chairman, Alhaji Dr. Umaru Kwairanga, stated: 

“These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision. The approval of a record N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development.” 

Group Managing Director/CEO, Mr. Temi Popoola, added: 

“NGX Group’s remarkable performance in 2024 reflects our strategic focus on execution, operational excellence, and innovation. The 157.3% increase in profit before tax underscores the strength of our execution strategy and the dedication of our team. By leveraging technology, expanding market data solutions, and strengthening our partnerships, we have built a more resilient and diversified business model that positions us for sustained growth.” 

According to the company’s press release, the strong growth in total income was driven by significant increases across key revenue streams:

Shift in pre-tax composition: 

Stronger financial position: 

NGXGROUP’s share price has shown mixed performance in recent years. After declining 6% YtD in 2023, it rebounded with a 16% YtD gain in 2024. As of February 28, 2025, the stock is up 10.1% YtD, ranking 56th on the NGX.

Trading activity remains relatively strong, with 59.1 million shares exchanged over the past three months, making it the 73rd most traded stock on the NGX.

The record N4.4 billion dividend payout (N2.00 per share) could further boost investor sentiment and potentially drive additional upside as the market reacts to the strong earnings and improved returns.