As per the latest financial results for the year 2023, Nigerian Exchange Group Plc (NGX Group) has seen a substantial increase in its gross earnings, reaching N11.8 billion. This marks a notable rise of 57.4% compared to the previous year’s earnings of N7.5 billion.
The remarkable growth in gross earnings can be attributed to robust performances across core revenue streams and other income segments.
In its full-year audited financial statements ending 31 December 2023, NGX Group disclosed a profit after tax of N5.2 billion and declared a final dividend of N1.5 billion.
Key drivers of revenue growth include a 52.6% increase in transaction fees, propelled by heightened trading activities. Additionally, listing fees and rental income saw significant upticks of 42.2% and 41.8%, respectively. Strategic investments also contributed to a 5.4% boost in treasury investment income.
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A noteworthy aspect of the financial performance was the surge in other income, which accounted for 29.7% of gross earnings and soared by 163.6% to N3.504 billion. This surge was primarily fueled by market data income, which rose by 44.1%, and an exceptional 304.8% increase in other operating income.
In light of the impressive operational performance, NGX Group’s Board approved a final dividend of N1.5 billion, translating to 75 Kobo per share for the year ended 31st December 2023. This final dividend complements an interim dividend of N495.53 million, equivalent to 25 Kobo per share, paid in August 2023, bringing the total dividend for FY 2023 to N1 per share.
Speaking on the dividend declaration, Alhaji (Dr) Umaru Kwairanga, the Group Chairman of NGX Group, expressed deep satisfaction and optimism, emphasizing the company’s commitment to maximizing shareholder value and its resilient financial position. He affirmed the Board and Management’s dedication to positioning NGX Group as the leading financial market infrastructure in Africa.
