Nigerian Exchange Group Plc has released its dividend policy in ensuring that shareholders received returns on their investments.
The policy document which was approved by the group’s board of directors of NGX Group Plc and published on the company’s website was formulated in accordance with the laws of the Federal Republic of Nigeria, investment and tax legislations, Codes of Corporate Governance, as well as internationally recognised best practices and principles.
According to the NGX Group Policy document, “NGX Group, through its dividend policy, seeks to guarantee shareholder rights especially as it relates to return on investment.
“The policy is developed to address issues relating to the determination and payment of dividend. The Group shall apply the policy, accordingly to determine any claim by any shareholder, individual or institution, regarding the dividends payouts by NGX Group subject to provisions in the articles of association of the company.”
In terms of the administration of dividends by the Group, the policy document added NGX Group would apply the policy on an annual basis to develop a transparent and methodological dividend consideration and payouts.
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