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Some analysts are projecting that banks may incentivise their shareholders with jumbo dividend payouts ahead of their capital-raising endeavours to meet the new requirements of the Central Bank of Nigeria.
Despite rising insecurity and a mix of macroeconomic challenges, the Nigerian equities market soared significantly last year 2023 with investors gaining N13 trillion in nominal terms.
Days after billionaire businessman, Femi Otedola, bought about a five per cent stake in Transnational Corporation Plc earlier in the year, the chairman of the group, Tony Elumelu, stated that it was a boost to have an active local investor community.
Shareholders have lamented the rising unclaimed dividends in the capital market currently put at N190 billion, stating that unless the parties involved in the processing of the claims adopt robust technology infrastructure that would enable investors to process their unclaimed dividend at the comfort of their homes, the menace may not be eliminated in the capital market.
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