As heightened activity on the Nigerian bourse translates into record-breaking financials, the race for the Nigerian Exchange Group Plc’s (NGX Group) N1.30 interim dividend has intensified market demand for its shares.
The N1.30 interim dividend will be paid on August 5 to shareholders whose names appear in the register of members as at the close of business on July 29, according to NGX Group corporate actions announcement.
With a total payout of about N3.8 billion, investors are aggressively positioning themselves to capture the mid-year yield to support summer spend.
This stampede to qualify propelled the stock to N158.3 on Monday July 27, the first trading day after the announcement as against N148 it closed in the trading week to Friday, July 24. This year, the stock has risen by 126.14 percent.
The stock trades comfortably near its 52-week high of N175.30, reflecting robust investor confidence in the exchange operator’s surging
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