UACN Property Development Company (UPDC), investment firm United Capital and Zenith Bank, have the highest dividend yield on the NGX.
The firm’s healthy dividend yields will support their performance relative to other equities as the full-year, 2023 annual dividend payout period approaches for shareholders.
Dividend yield is the financial ratio that measures the quantum of cash dividends paid out to shareholders relative to the market value per share. It is computed by dividing the dividend per share by the market price per share and multiplying the result by 100.
UPDC has the top dividend yield of 15.2%, then United Capital 9.1%, followed by Zenith Bank 8.7%. Others in the top-10 include Mansard at 8.2% and GTCO 7.6%.
With bond yields close to 18%, investors are looking to buy stock with higher dividend yields for their portfolios.
Zenith Bank’s announcement that net income otherwise known as profit after (PAT) was up 149.05 percent to N434.34 billion in September 2023, compared with N223.91 billion recorded as at December 2022, augurs booming profits across the banking sector.
MoneyCentral forecast Zenith’s next payout for full year 2023 will show a slight annual increase, compared to 2022 levels.
