By Chukwuma Umeorah
The Securities and Exchange Comission (SEC) has said that listed companies declared dividends totaling N1.1 trillion to shareholders in 2024.
The Director-General of SEC, Emomotimi Agama, disclosed this at the first quarter Capital Market Committee (CMC) meeting recently in Lagos. Agama said out of the amount, listed companies had already paid N1.0 trillion to shareholders.
This according to him, reflected improved market confidence and investor returns.
Agama added that the commission between January and December 2024, had approved a total of N3.68 trillion in new issues.
“This comprised N59.82 billion in fixed income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market.
“For the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38 billion.
“Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities,” he said.
Speaking on mergers and acquisitions, Agama said the commission in 2024 approved 11 transactions with an aggregate value of N320.36 billion.
“Most notable of these was the acquisition of a 58.02 per cent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion.
“There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.
“Among the notable corporate restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which saw a one-for-four share consolidation amounting to N5.08 billion,” he said.
Speaking further, he said the commission had approved three major transactions year-to-date worth N38.53 billion.
“This includes two takeovers and one corporate restructuring. While no mergers have been recorded within the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors.
“These activities reflect continued strategic realignments within the market,” he said.
On collective investment schemes, Agama said that it recorded robust expansion with a combined net asset value of N3.84 trillion as of fourth quarter of 2024.
“Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unitholders. Privately managed portfolios and products grew to 444 vehicles with assets under management totaling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments.
“These figures reflect a maturing market where professional fund management is increasingly recognised as a critical driver of capital formation and wealth creation.
“These figures are indicative of sustained activity in the market, particularly as issuers continue to leverage both the debt and equity segments to finance growth and investment,” Agama added.
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