Nigeria, Aug. 21 -- At least 60 of about 136 listed companies on the Nigerian Exchange (NGX) haven't paid dividends for at least three years in the five years from 2021 to 2025, PREMIUM TIMES has found.

That compares with 51 companies in the half-decade period to 2021, when the number of quoted stocks was 156 (including ETFs), as reviewed in a previous PREMIUM TIMES report.

A deep dive by PREMIUM TIMES showed that many Nigerian stocks don't pay dividends for a variety of reasons, including strategic, regulatory, and policy-related factors.

Some companies' choice not to offer dividends to shareholders is not necessarily a drawback, nor is it a regulatory breach that authorities should look out for to sanction non-compliant firms.

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