Firm to Publish Dividends Payment Records to Boost Market Patronage

The management of Third Observers Nigeria Limited (TONL) is to publish a compilation of its compilation of dividend payment profiles of listed companies in Nigeria to complement its annual Dividend Payment Awards for Nigeria’s listed companies, which second edition is slated for March 2019 in Lagos.

The maiden edition of the dividend payment awards was held on February 10, 2018 with 10 listed companies conferred with various honours for their respective years of dividend payments starting from a minimum of 10 years and above, as listed entities.

But TONL explained in a statement that it decided to publish the dividend payment information of listed companies in Nigeria since each company was quoted on the Nigerian Stock Exchange (NSE) to intimate the Nigerian public with the strategic financial support of listed companies in the country to the Nigerian economy from their annual payments of hundreds of billions of naira as dividends to their shareholders over the periods of their operations as quoted entities to date outside corporate taxes.

According to the company, the dividends have helped many shareholders to enjoy a life-long comfort, created new businesses, nurtured many aspirations to fruition, and inspired many shareholders to become who they want to be.

Commenting on the development, the Managing Director of TONL, Mr. Abiodun Ayodele, said the publication of the dividend payment policies of the listed entities will help reduce the continuously rising volume of unclaimed dividends in the capital market by motivating more shareholders that come across the book to enroll for the electronic collection of their dividends as mandated by the apex regulator of the Nigerian capital market, the Securities and Exchange Commission(SEC).

Ayodele said: “The book will also promote the Nigerian capital market as a place of regular dividend income for Nigerians that develop the interest to become shareholders of quoted companies in the country.”

It is estimated that only about five million Nigerians currently hold any form of shareholding in listed companies in Nigeria.

According to him, the book will be available across Nigeria and overseas latest 30 December 2018 and shall be updated every two years to keep the investing public abreast of prompt information on dividend incomes declared by listed companies in Nigeria.

“The publication will ultimately increase the number of Nigerian shareholders with equities in the listed companies,” he said.