Dividend payments remain one of the strongest drivers of investor confidence in Nigeria’s stock market. They’re not just cash rewards, they reflect a company’s strength, profitability, and management’s trust in its performance.
As of the end of the third quarter of 2025, about 21 listed firms on the Nigerian Exchange (NGX) had declared interim or final dividends totaling around ₦581 billion, drawn from a combined ₦3.7 trillion profit after tax (PAT).
This gives a payout ratio of about 15.7%, showing that shareholder returns remain a key priority across sectors.
Below are the five companies paying the highest dividends in Nigeria so far in 2025, based on their most recent financial statements.
Seplat Energy Plc – ₦255.32 Billion Dividend (Q1–Q3 2025)
Seplat Energy leads the list with a remarkable ₦255.32 billion dividend payout for the first three quarters of 2025.
The oil and gas company declared US$0.167 per share, a sharp increase of 70.1% from the US$0.096 (₦152 billion) paid in the same period of 2024. This translates to a payout ratio of over 105%, derived from a ₦146.64 billion nine-month PAT.
Despite a slight dip in retained earnings from ₦319 billion to ₦314 billion Seplat remains one of the most dependable dividend stocks on the NGX. Its share price is up 3.81% year-to-date, offering a 4.38% dividend yield, which reinforces investor trust in its consistent performance.
MTN Nigeria Plc – ₦104.98 Billion Dividend (Q3 2025)
Telecoms giant MTN Nigeria takes the second spot with a ₦104.98 billion dividend payout for the third quarter of 2025.
The company declared ₦5 per share, marking its return to dividend distribution after over two years of suspension. MTN reported a ₦750.19 billion PAT, reflecting a 14% payout ratio. Retained earnings stood at ₦143 billion after the declaration.
The dividend is scheduled for payment on November 28, 2025, to shareholders on record as of November 20. MTN’s share price has soared to ₦489.20, gaining 145% year-to-date, signaling a strong comeback and renewed investor confidence.
Zenith Bank Plc – ₦51.34 Billion Dividend (H1 2025)
Zenith Bank ranks third with a ₦51.34 billion dividend payout for the half-year ended September 30, 2025.
The bank declared ₦1.25 per share, supported by a ₦764.20 billion PAT, resulting in a 6.72% payout ratio. Retained earnings climbed to ₦2.56 trillion, a 27% rise from ₦2.01 trillion at the end of 2024.
Zenith’s steady earnings and prudent capital management continue to make it a favorite among income investors. Its share price has gained 33.6% since January, reflecting investor confidence in its resilience despite economic pressures.
Lafarge Africa Plc – ₦64.43 Billion Dividend (Q1 2025)
Lafarge Africa sits in fourth place, rewarding shareholders with a ₦4 per share dividend for the first quarter of 2025, totaling ₦64.43 billion.
This represents a 31% payout ratio from its ₦207.78 billion PAT. The cement maker’s retained earnings rose significantly to ₦440.22 billion, up from ₦315.5 billion in December 2024, evidence of strong profit retention and solid fundamentals.
Lafarge’s share price has jumped 85.9% year-to-date, reaching ₦130, driven by solid earnings and consistent dividend history that continues to attract long-term investors.
Aradel Holdings Plc – ₦43.45 Billion Dividend (Q3 2025)
Aradel Holdings completes the list with an ₦10 per share interim dividend declared in the third quarter of 2025, totaling ₦43.45 billion.
This marks an 18% payout ratio from its ₦245 billion nine-month PAT. In the previous year, Aradel paid a combined ₦30 per share dividend (₦8 interim and ₦22 final) from a ₦110.58 billion PAT.
As of September 2025, Aradel’s share price was ₦615, up 2.84% year-to-date, and has since risen to ₦717.50, marking a 20% increase, another signal of investor faith in its consistent returns.
Other Notable Dividend Payers
Outside the top five, several companies have also rewarded shareholders with strong dividend payouts in 2025:
- Stanbic IBTC Holdings Plc: ₦2.50 per share (₦39.75 billion)
- Okomu Oil Palm Plc: ₦40 per share (₦38.16 billion)
- GTCO Plc: ₦1 per share (₦36.43 billion)
- Presco Plc: ₦30 per share (₦30 billion)
- UBA Plc: ₦0.25 per share (₦10.26 billion)
What you should know
Energy and banking companies remain the backbone of Nigeria’s dividend landscape, thanks to their solid earnings and cash flow.
Oil firms like Seplat Energy and Aradel Holdings benefited from stronger oil prices and improved operations, while banks like Zenith and UBA continue to prove their reliability despite economic uncertainty.
Meanwhile, manufacturing firms such as Lafarge Africa are maintaining stable dividend policies supported by cost control and margin recovery.