Do you ever want to invest in the Nigerian Stocks that pay you dividends daily? Then, this article is for you.
The Nigerian Stock Exchange is one of the largest stock exchanges in Africa; it was founded in 1961. It was formerly known as the Lagos Stock Exchange.
Lagos Stock Exchange was founded on September 15, 1960, and in 1977 it was renamed to Nigeria Stock Exchange.
The Nigerian Stock Exchange is regulated by the Securities and Exchange Commission (SEC) of Nigeria.
We have 160 Companies listed on the Nigerian Stock Exchange and some of the largest companies include Dangote Cement, Guaranty Trust Bank, MTN Nigeria, and Nestle Nigeria.
Most of the sectors in the Nigerian Stock Exchange include financial services, consumer goods, oil and gas, healthcare, and telecommunication.
Under financial services, we have market data, clearing and settlement, and index calculation.
The Nigerian Stock Exchange has its physical location in the following states: Abuja, Kaduna, Port Harcourt, Kano, Onitsha, Ibadan, Yola, Benin, Uyo, Ilorin, Abeokuta, Owerri, and Bauchi.
Top 10 Best Nigerian Stocks That Pays You Dividend Daily
1. MTN Nigeria Communications PLC (NGX: MTNN):
One of the best Nigeria stocks on the exchange that pays you daily dividends.
MTN Nigeria is a telecommunication industry that provides Global System for Mobiles (GSM).
Before now MTN Nigeria Communications PLC was formerly known as MTN Nigeria Communications Ltd.
They offer the following products and services: broadband fixed wireless access services, telecommunication services, and mobile financial services (Fintech).
MTN Nigeria is known to be one of the largest telecommunication industries in Nigeria and has a strong brand among Nigerians with over 70 million subscribers.
As of December 2021, MTN Nigeria opened a public retail share for investors and was priced at #169.00 per share.
The sales started on Wednesday, 1 December 2021, and closed on Tuesday, 14 December 2021. MTN Nigeria has a market capitalization of #4.09 trillion making it third place in the Nigerian Stock Exchange.
They operate in the following sectors: The Consumer Business Unit (CBU), The Enterprise Business Unit (EBU), and The Wholesale Business Unit (WBC).
The Consumer Business Unit (CBU) focuses on subscribers with value propositions and tariff plans that are specifically for youth, high-value, or mass segments.
Enterprise Business Unit (EBU) aims to work on large corporations, and small and medium-sized businesses by providing goods and services.
The Wholesale Business Unit (WBC) works with customers who purchase MTN Telecom goods in large quantities intending to resell to other customers or subscribers.
2. Guaranty Trust Holding (NGX: GTCO):
The second best among list of top Nigerian stocks that pay dividends.
Guaranty Trust Holding is ranked the 10th most valuable stock on the Nigerian Stock Exchange Market with a market value of $605 billion.
Guaranty Trust Bank is one of the top banks that is recognized by Nigerians their main focus is to provide financial services, digital banking, and customer experience.
Over the years Guaranty Trust Bank has recorded many profitable rates and consistently paid dividends to their shareholders.
Guaranty Trust Bank offers many banking services to customers which include current accounts, deposits, fixed deposits, hard currency, overdrafts, loans, credit facilities, foreign currency, and derivative products.
They also offer corporate and retail banking which include Incorporated banks, retail banks, commercial banks, small and medium-sized businesses (SME) banks, and public sector banks.
3. International Breweries (NGX: INTBREW)
The third best among list of top Nigerian stocks that pay dividends.
International Breweries Plc is one of the popular brewery companies that was recognized by Nigerians; it was established in December 1978.
International Breweries Plc is known for producing and packaging, selling soft drinks, beer, alcoholic, and non-alcoholic beverages.
When the company was launched in December 1978 it started with a capacity of 200,000 hectoliters per year, in December 1982 it grew its capacity to 500,000 hl/a.
As of April 26, 1994, International Breweries Plc was listed as a public limited liability company by the Nigerian Stock Exchange.
International Breweries Plc is recognized as the most valuable stock in Nigeria by the Nigerian Stock Exchange and is ranked 23rd with a market capitalization of #134 billion.
In terms of year-to-date performance International Breweries Plc is ranked 52nd by the Nigerian Stock Exchange and their share price is currently at #4.95 as of 2022.
4. United Africa Company (UAC) of Nigeria (NGX: UACN):
The fourth best among list of top Nigerian stocks that pay dividends.
United Africa Company of Nigeria PLC is majorly known by Nigerians for dealing with food, beverage, real estate, paints, and logistics Industries.
It is segmented into 5 sections: paints, logistics, real estate, food and beverage, and others.
The paint section focuses on the production of paint and the sale of this paint directly to customers, it also involves selling other decorative materials.
The logistics section is targeted to provide logistics and chain services, and the real estate section provides individuals with real estate development and management. Others section has to do with the pension fund.
United Africa Company of Nigeria Plc is one of the most valuable stocks in Nigeria and is ranked 39th by the Nigerian Stock Exchange with a Market capitalization of #32.3 billion in terms of year-to-date performance they are ranked 33rd by the Nigerian Stock Exchange and their share price is #9.50.
5. Transnational Corporation of Nigeria PLC (NGX: TRANSCORP):
The fifth best among list of top Nigerian stocks that pay dividends.
Transnational Corporation of Nigeria PLC is the owner of the award-winning Transcorp Hilton Hotel in Abuja and Transcorp Hotel in Calabar which is rated as one of their top Investment portfolios in Nigeria.
Transnational Corporation is known as an investment firm that provides the investor with long-term profits for their shares.
They also offer the following corporate centre, oil and gas, agro-allied, and power.
This company is rated one of the most valuable stocks in Nigeria by the Nigerian Stock Exchange and they are ranked 32nd in the list with a market capitalization of #45.5 billion and also rated 36th in terms of year-to-date performance by the Nigerian Stock Exchange.
6. Unilever Nigeria (NGX: UNILEVER):
The sixth best among list of top Nigerian stocks that pay dividends.
Unilever Nigeria PLC was popular among Nigerians on April 11, 1923 this company was created by William Hesketh Lever and it is located in Ikeja, Nigeria.
Unilever Nigeria PLC deals with food products and household and personal care products. Food products and home and personal care are the main sections of this company.
The food products department includes spices, beverages, and savoury food sales while the home and personal care department includes dental care, detergents, fabric care, home cleaning, skincare, and oral care products sales
Unilever Nigeria PLC is recognized as one of the most valuable stocks in Nigeria according to the Nigerian Stock Exchange Unilever Nigeria is ranked the 27th most valuable stock in the country with a market capitalization of #77.6 billion.
7. Flour Mills of Nigeria (NGX: FLOURMILL):
The seventh best among list of top Nigerian stocks that pay dividends.
Flour Mills of Nigeria PLC is well known by Nigerians with its popular brand name, Golden Penny. This company was launched on September 29, 1960, by George Stravos Coumantaros and it is located in Lagos, Nigeria.
Flour Mills is the main producer of pasta, noodles, refined sugar, and animal feeds. This company is divided into 5 divisions which include Food, Agro Allied Products, Sugar, and Other support services.
The Food department is in charge of producing snacks, pasta, noodles, and sugar.
The Agro Allied department focuses on the production and the growing of farm products which include cassava, maize, soya beans, sugar cane, oil palm, edible oil, and the sales of fertilizer and animal feed.
Flour Mills is one of the most valuable stocks in Nigeria and according to the Nigerian Stock Exchange flour Mills is ranked 22nd most valuable stock in the country with a market capitalization of #135 billion.
They are also ranked 38th by the Nigerian Stock Exchange in terms of year to date performance and its share is price for #28.35.
8. Stanbic IBTC Holdings (NGX: STANBIC):
The eight best among list of top Nigerian stocks that pay dividends.
Stanbic IBTC PLC is the most popular bank in Nigeria and it was established in Lagos, Nigeria in 1989. This bank is recognized to provide financial services and online banking to its customers.
Stanbic IBTC is divided into 3 major divisions which include corporate and Investment banking, personal and business banking, and wealth management.
Under the Personal and Business banking department they offer the following services to customers: debit cards, loans for buying property, leases, different credit cards, and refinancing installment sales.
The Corporate and Investment banking department renders the following services: financial services for corporations and investors, while the wealth management department is in charge of handling all financial planning and management of individuals and businesses.
9. Dangote Sugar Refinery (NGX: DANSUGAR):
The ninth best among list of top Nigerian stocks that pay dividends.
Dangote is a popular businessman in Nigeria and he’s known for one of its Industries called Dangote Sugar Refinery which is responsible for processing sugarcane to home sugar that can be eaten.
Dangote Sugar Refinery Plc was founded in March 2000 in Lagos, Nigeria. This company has a farm where they grow sugarcane and they also milled this sugarcane into normal sugar.
This company is made up of 4 major subregions which are Lagos, South Western, South Eastern, and Northern Nigeria. Among the 4 listed subregions, the Northern part is the only part that is generating the biggest income for them and they also have a market value of #201 billion.
10. FBN Holdings PLC (NGX: FBNH):
The tenth best among list of top Nigerian stocks that pay dividends.
FBN Holdings PLC was established on 31st March 1894 by Alfred Lewis Jones in Lagos, Nigeria.
First Bank of Nigeria is one of the most popular banks in Nigeria that provides commercial banking and financial services to customers.
We have divisions in FBN Holdings which include Commercial Banking Business Group, merchant Banking and asset management, the insurance industry, and others.
Under the commercial banking business department, we have financial intermediation services provided to individuals and corporate organizations while the others include the main firm, FBN Holdings PLC, and Rainbow Town Development Limited.
FBN Holdings PLC has a market capitalization of #388 billion and is ranked the 11th most valuable stock by the Nigerian Stock Exchange.
Conclusion On Top 10 Best Nigeria Stocks That Pay Dividends
The Stock Exchange Market is believed to be one of the ways to generate passive income if you want to build wealth. You should consult a financial advisor or a professional broker before making any Investment.
The market is not always stable and leads to loss of fortunes. It is a financial advisor or a professional broker that will be able to guide you to make the best decision as an investor.
You can trade here with the best stock brokers in Nigeria.
