MMansa Markets
Mansa Markets/Blog/Dividends 2026
Updated Weekly · 2026 Results Season

Dividends Declared in 2026
Across African Markets

As African companies release their audited 2025 full-year results, dividend declarations are rolling in across the continent's major exchanges. This tracker covers all announced dividends from companies listed on the Nigerian Exchange (NGX), Nairobi Securities Exchange (NSE), Ghana Stock Exchange (GSE), and the Johannesburg Stock Exchange (JSE).

By Mansa MarketsPublished: April 11, 2026Last Updated: April 11, 2026● Live Tracker
🇳🇬 Nigeria · NGX
40+
Companies declared
Settlement: T+2  |  WHT: 10%
🇰🇪 Kenya · NSE
10+
Companies declared
Settlement: T+3  |  WHT: 0% (residents)
🇬🇭 Ghana · GSE
6+
Companies declared
Settlement: T+3  |  WHT: 8%
🇿🇦 South Africa · JSE
6+
Major companies tracked
Settlement: T+3  |  DWT: 20%
🇳🇬 Nigeria

Nigerian Exchange (NGX)

Currency: NGN (₦)  |  WHT: 10%  |  Settlement: T+2

Nigerian companies have been the most active dividend payers on the continent in 2026, driven by strong 2025 FY results across banking, energy, consumer goods, and infrastructure. All dividends are paid electronically via e-dividend mandate to shareholders on the register by the qualification date. Dividends are subject to 10% withholding tax deducted at source. Access Holdings and UBA await CBN clearance to publish final figures.

CompanyTickerDiv / ShareTypeSpecialBonusQualification DateRegister ClosureAGM DatePayment DateRegistrar
Q1 2026 — January to March Payouts
NIDF Q4 2025 DistributionNIDF₦4.68Distribution——Jan 28, 2026Jan 29, 2026N/AFeb 5, 2026Coronation
MoFI REIT IMOFIREIT₦3.7468Distribution——Feb 20, 2026Feb 23, 2026N/AFeb 27, 2026Africa Prudential
MoFI REIT IIMOFIREIT2₦9.7192Distribution——Feb 20, 2026Feb 23, 2026N/AFeb 27, 2026Africa Prudential
Vitafoam Nigeria PLCVITAFOAM₦3.00Final—1 for 5Feb 6, 2026Feb 9–13, 2026Mar 5, 2026Mar 5, 2026Meristem
Transcorp Hotels PLCTRANSCOHOT₦1.20Final——Feb 13, 2026Feb 16–20, 2026Feb 26, 2026Feb 27, 2026Africa Prudential
The Frontier FundTFF₦18.00Distribution——Feb 27, 2026Mar 2, 2026N/AMar 6, 2026Pace
Africa Prudential PLCAFRIPRUD₦0.40 finalFinal (₦0.50 total FY)——Mar 12, 2026Mar 13, 2026Apr 2, 2026Apr 2, 2026Africa Prudential
Zichis Agro-Allied PLCZICHIS₦0.20Final—1 for 1Mar 16, 2026Mar 17–20, 2026Apr 30, 2026May 7, 2026Datamax
April 2026 — Qualification Dates
The Initiates PLCINITIATE₦0.30Final——Apr 7, 2026Apr 8–10, 2026Apr 30, 2026May 4, 2026Apel Capital
CWG PLCCWG₦0.70Final——Apr 7, 2026Apr 8, 2026Apr 16, 2026Apr 17, 2026Cordros
United Capital PLCUCAP₦0.70 final (₦1.00 total)Final——Apr 7, 2026Apr 8–10, 2026Apr 24, 2026Apr 24, 2026Africa Prudential
MTN Nigeria PLCMTNN₦15.00 final (₦20.00 total)Final——Apr 8, 2026Apr 9, 2026Apr 30, 2026May 5, 2026Coronation
NGX Group PLCNGX₦2.00 final (₦3.00 total)Final—1 for 3Apr 10, 2026Apr 13, 2026Apr 29, 2026Apr 29, 2026Datamax
Unilever Nigeria PLCUNILEVER₦3.25Final——Apr 10, 2026Apr 13–17, 2026May 8, 2026May 8, 2026Greenwich
GTCO PLCGTCO₦11.76 final (₦12.76 total)Final——Apr 13, 2026 (NGX) / Apr 7 (LSE)Apr 14, 2026Apr 28, 2026Apr 28, 2026Datamax
Eterna PLCETERNA₦0.50Final——Apr 13, 2026Apr 14, 2026May 12, 2026May 12, 2026Greenwich
Geregu Power PLCGEREGU₦9.00Final——Apr 13, 2026Apr 14, 2026Apr 30, 2026Apr 30, 2026Meristem
Transcorp Power PLCTRANSPOWER₦4.00 final (₦5.50 total)Final——Apr 13, 2026Apr 14–17, 2026Apr 27, 2026Apr 28, 2026Africa Prudential
Custodian Investment PLCCUSTODIAN₦2.50Final——Apr 13, 2026Apr 14–17, 2026May 8, 2026May 8, 2026Meristem
NASCON Allied Industries PLCNASCON₦6.00Final——Apr 1, 2026Apr 2, 2026Apr 27, 2026Apr 28, 2026Meristem
Lafarge Africa PLCLAFARGE₦6.00Final——Apr 3, 2026Apr 6–10, 2026Apr 30, 2026Apr 30, 2026CardinalStone
NEM Insurance PLCNEM₦1.50Final——Apr 14, 2026Apr 15–17, 2026May 14, 2026May 14, 2026Apel Capital
Fidson Healthcare PLCFIDSON₦1.50Final——Apr 14, 2026Apr 15–20, 2026Jul 30, 2026Jul 31, 2026Meristem
Infinity Trust MFB PLCINFINITY₦0.35Final—1 for 1Apr 17, 2026Apr 20–24, 2026May 21, 2026May 26, 2026Africa Prudential
SFS REITSFSREIT₦28.30Distribution——Apr 17, 2026Apr 20–24, 2026N/AMay 18, 2026Pace
Mecure Industries PLCMECURE₦0.32Final——Apr 23, 2026Apr 30, 2026TBCTBCCordros
Berger Paints PLCBERGER₦1.25 final (₦1.65 total)Final——Apr 23, 2026Apr 24–30, 2026May 21, 2026May 21, 2026Meristem
Zenith Bank PLCZENITHBANK₦8.75 final (₦10.00 total)Final——Apr 24, 2026Apr 27, 2026May 5, 2026May 5, 2026Veritas
UPDC PLCUPDC₦0.01Final——Apr 22, 2026Apr 23–29, 2026May 7, 2026May 7, 2026Meristem
Okomu Oil Palm PLCOKOMUOIL₦15.00Final——Apr 27, 2026Apr 28–May 1, 2026May 26, 2026May 26, 2026CardinalStone
Transnational Corporation PLCTRANSCORP₦1.60Final——Apr 27, 2026Apr 28–30, 2026May 8, 2026May 8, 2026Africa Prudential
Consolidated Hallmark PLCCHL₦0.15Final——Apr 29, 2026Apr 30–May 5, 2026TBCTBCMeristem
May 2026 — Qualification Dates
NAHCO PLCNAHCO₦6.25Final—1 for 7May 1, 2026May 4–6, 2026May 15, 2026May 15, 2026CardinalStone
VFD Group PLCVFD₦0.25Final——May 4, 2026May 5–7, 2026May 25, 2026May 25, 2026Africa Prudential
Seplat Energy PLCSEPLATUS$0.05 finalFinalUS$0.033—May 15, 2026May 18, 2026May 20, 2026May 29, 2026Datamax
BUA Cement PLCBUACEMENT₦10.00Final——May 8, 2026May 11–15, 2026May 21, 2026May 21, 2026Africa Prudential
May Baker Nigeria PLCMAYBAKER₦0.50Final——May 19, 2026May 20–22, 2026Jun 4, 2026Jun 4, 2026Veritas
AIICO Insurance PLCAIICO₦0.12Final——May 27, 2026May 28–Jun 4, 2026Jun 5, 2026Jun 5, 2026Coronation
Julius Berger PLCJBERGER₦4.25Final——May 29, 2026Jun 1–3, 2026Jun 18, 2026Jun 19, 2026Greenwich
ABC Transport PLCABCTRANS₦0.06Final——May 22, 2026May 25–27, 2026TBCTBCFirst
June–July 2026 — Qualification Dates
CAP PLCCAP₦4.00Final——Jun 3, 2026Jun 4–8, 2026Jun 24, 2026Jun 25, 2026Africa Prudential
Beta Glass PLCBETAGLAS₦7.20Final——Jun 3, 2026Jun 4–11, 2026Jun 25, 2026Jun 25, 2026Greenwich
BUA Foods PLCBUAFOODS₦28.00Final——Jun 4, 2026Jun 5–11, 2026Jul 15, 2026Jul 15, 2026Africa Prudential
Dangote Cement PLCDANGCEM₦45.00Final——Jun 17, 2026Jun 18, 2026Jul 2, 2026Jul 2, 2026Coronation
UACN PLCUACN₦1.00Final——Jun 11, 2026Jun 12–18, 2026Jun 25, 2026Jun 26, 2026Africa Prudential
CHAMS Holding PLCCHAMS₦0.03Final——Jun 18, 2026Jun 19–26, 2026Jul 9, 2026Jul 10, 2026First
McNichols PLCMCNICHOLS₦0.06Final——Jun 29, 2026Jun 30, 2026Jul 30, 2026Aug 6, 2026Coronation
Ikeja Hotel PLCIKEJAHOTEL₦0.30Final——Jul 3, 2026Jul 6–10, 2026Jul 30, 2026Aug 3, 2026Greenwich
E-Tranzact International PLCETRANZACT₦0.125Final——Jul 6, 2026Jul 7–22, 2026Jul 23, 2026Jul 23, 2026Meristem
Pending — Board Approved, Awaiting CBN Clearance
Access Holdings PLCACCESSAmount TBAFinalTBA—TBATBATBATBATBA
United Bank for Africa PLCUBAAmount TBAFinalTBA—TBATBATBATBATBA
UPDC REITUPDCREIT₦0.33Distribution——TBCTBCTBCTBCFirst
🇰🇪 Kenya

Nairobi Securities Exchange (NSE)

Currency: KES (KSh)  |  WHT: 0% (residents)  |  Settlement: T+3

Kenya's NSE delivered a strong dividend season in 2026, with banking sector giants leading record payouts following robust 2025 full-year earnings. Dividends on the NSE are tax-free for resident individual investors — one of the most investor-friendly policies on the continent. Non-residents are subject to a 15% withholding tax. The NSE uses a T+3 settlement cycle, so shares must be purchased at least 3 business days before the book closure date.

CompanyTickerDiv / ShareTypeSpecialBook ClosureAGM DatePayment Date
Q1 2026 — Early Payouts
Kenya Power & Lighting (KPLC)KPLCKSh 0.30 interimInterim—Feb 23, 2026—Mar 27, 2026
Safaricom PLCSCOMKSh 0.85 interimInterim (H1 FY2026)—Feb 25, 2026—Mar 31, 2026
April–May 2026 — Major Final Dividends
Co-operative Bank of KenyaCOOPKSh 2.50Final—Apr 2, 2026TBCMay 22, 2026
Absa Bank Kenya PLCABSAKSh 1.85Final—Apr 30, 2026TBCMay 19, 2026
KCB Group PLCKCBKSh 3.00 final (KSh 7.00 total FY)FinalKSh 1.00 (incl. in final)TBCTBCTBC
Stanbic Holdings PLCCFCKSh 18.55 final (KSh 22.35 total FY)Final—May 15, 2026TBCTBC
Equity Group Holdings PLCEQTYKSh 5.75Final (record payout)—TBCTBCTBC
Standard Chartered Bank KenyaSCBKKSh 23.00Final—TBCTBCTBC
Diamond Trust Bank KenyaDTKKSh 9.00Final—TBCTBCTBC
NCBA Group PLCNCBAKSh 4.60Final—TBCTBCTBC
I&M Holdings PLCIMHKSh 2.25Final—TBCTBCTBC
BAT Kenya PLCBATKSh 60.00Final—TBCTBCTBC
Nairobi Securities Exchange PLCNSEKSh 1.00First & Final—TBCTBCTBC
Kakuzi PLCKUKZKSh 16.00First & Final—TBCTBCTBC
🇬🇭 Ghana

Ghana Stock Exchange (GSE)

Currency: GHS (GH¢)  |  WHT: 8%  |  Settlement: T+3

The GSE has had an extraordinary 2026, with the GSE Composite Index rising over 80% year-to-date as of March 2026 and market capitalisation crossing GH¢300 billion. Dividend activity has followed suit, led by MTN Ghana's highest-yielding payout since its 2018 IPO. Dividends in Ghana attract an 8% withholding tax and are administered through the Securities Depository Centre (SDC). Settlement on the GSE is T+3.

CompanyTickerDiv / ShareTypeSpecialBonusBook Closure / Qual. DateAGM DatePayment Date
2026 Declared (FY 2025 Results)
MTN Ghana (MTNGH)MTNGHGH¢0.40Final——TBCTBCTBC
Standard Chartered Bank GhanaSCBGH¢ — ~5.71% yieldFinal——TBCTBCTBC
Ecobank Ghana PLCEGHGH¢ — ~0.55% yieldFinal——TBCTBCTBC
Benso Oil Palm PlantationBOPPGH¢ (announced; amount TBC)Final——TBCTBCTBC
TotalEnergies Marketing GhanaTOTALGH¢ (consistent payer — annual)Final——TBCTBCTBC
Enterprise Group PLCEGLGH¢ (consistent payer — annual)Final——TBCTBCTBC
Ghana Note: The GSE corporate calendar for 2026 dividend declarations was not yet fully published as at the research date of this article (April 11, 2026). Specific GHS dividend per share amounts and payment dates for GSE-listed companies will be updated as official announcements are made. The yields cited for Standard Chartered and Ecobank Ghana are as reported in March 2026 market data. MTN Ghana's GH¢0.40 per share dividend was confirmed by the Accra Street Journal (March 2026) as declared.
🇿🇦 South Africa

Johannesburg Stock Exchange (JSE)

Currency: ZAR (R)  |  DWT: 20%  |  Settlement: T+3

The JSE is Africa's largest exchange by market capitalisation. Most major JSE-listed companies pay dividends semi-annually — an interim dividend (typically around September) and a final dividend (typically around March–May). South Africa levies a 20% Dividends Withholding Tax (DWT) on all dividend payments. The list below covers confirmed final dividends for the FY2025 financial year paid in 2026, based on SENS (Stock Exchange News Service) announcements.

CompanyTickerDiv / ShareTypeSpecialEx-Dividend DateRecord DatePayment Date
Final Dividends — FY 2025 (Paid in 2026)
Absa Group LimitedABGR8.50 (850 cents)Final—Apr 22, 2026Apr 24, 2026Apr 28, 2026
Standard Bank GroupSBKR7.63 (763 cents) est.Final—Apr 13, 2026Apr 15, 2026Apr 14–16, 2026
Capitec Bank HoldingsCPIR35.22 (semi-annual)Final—~Jul 2026 (expected)TBCTBC
Vodacom GroupVODSemi-annual payerInterim / Final—~Jun 2026 (expected)TBCTBC
Anglo American PLCAGLUSD-denominatedFinal—~May 2026 (expected)TBCTBC
MTN Group LimitedMTNSemi-annual payerFinal—TBCTBCTBC
Shoprite HoldingsSHPAnnual payerFinal—~Sep 2026 (expected)TBCTBC
FirstRand LimitedFSRSemi-annual payerInterim / Final—~Apr–May 2026 (expected)TBCTBC
JSE Note: JSE dividend data is sourced from SENS announcements, Stock Events, Simply Wall St, and DivvyDiary. The JSE has hundreds of listed companies, many paying semi-annual dividends. This table focuses on major blue-chips with confirmed or expected 2026 dividend events. Amounts marked as "est." or "expected" will be confirmed upon official SENS announcement and updated accordingly. Standard Bank's April 2026 ex-dividend date is sourced from Stock Events (SBGOF ADR data — USD equivalent). ZAR amounts reflect the JSE-listed ordinary share dividend.

Withholding Tax on Dividends Across African Markets

Understanding your net dividend payout requires factoring in the withholding tax (WHT) applied in each jurisdiction. Here is a quick reference:

Country / ExchangeWHT Rate (Residents)WHT Rate (Non-Residents)Applied ByNotes
🇳🇬 Nigeria (NGX)10%10%Deducted at source by registrarSame rate for residents and non-residents. Applies to all listed dividends.
🇰🇪 Kenya (NSE)0% (exempt)15%Company deducts for non-residentsResident individuals are fully exempt from dividend WHT — a major advantage for local investors.
🇬🇭 Ghana (GSE)8%8%Deducted at sourceFlat rate for all investors. Lower than Nigeria, higher than Kenya's resident rate.
🇿🇦 South Africa (JSE)20% DWT20% (may vary by treaty)Deducted at source by companyKnown as Dividends Withholding Tax (DWT). Highest rate on this list. Treaty countries may qualify for reduced rates.

How to Qualify for Dividends on African Exchanges

📅

Know Your Cut-Off Date

Each exchange uses a qualification date (also called record date). You must own the shares before this date. Account for the settlement period — T+2 on NGX and JSE, T+3 on NSE and GSE.

🏦

Register for e-Dividend

On the NGX, complete an e-dividend mandate with the registrar to receive payment directly to your bank. On the NSE, your broker links your CDS account to your payment account. GSE uses the Securities Depository Centre (SDC).

📋

Verify Your Details

Outdated bank details, inactive CSCS/CDS accounts, or incomplete mandates are the most common reasons for failed dividend payments. Check with your registrar before each qualification date.

💸

Understand WHT Impact

Your net dividend is the declared amount minus withholding tax. At 10% (Nigeria), a ₦10/share dividend nets you ₦9/share. At 20% (South Africa), R8.50 becomes R6.80 net. Plan your income expectations accordingly.

Frequently Asked Questions

Which African stock market pays the highest dividends in 2026?

By sheer total payout volume, the NGX (Nigeria) and JSE (South Africa) lead. Nigeria had over 40 companies declare dividends for the 2025 financial year, with headline payers like Dangote Cement (₦45/share), BUA Foods (₦28/share), and the banking sector collectively distributing hundreds of billions of naira. South Africa's JSE features globally competitive yields from Absa, Standard Bank, and others. Kenya's NSE has particularly attractive dividend yields of 6–10% in banking, with the added benefit of 0% withholding tax for resident investors.

What is a qualification date and how is it different from an ex-dividend date?

On the NGX and NSE, the qualification or record date is when the company's share register is closed to determine eligible shareholders. The ex-dividend date — one business day before the record date on a T+2 exchange — is the first day a new buyer would NOT receive the dividend. On the JSE, the ex-dividend date is explicitly declared in SENS announcements and is the primary date investors watch. Effectively, you need to own the shares before the ex-dividend date.

Can foreign investors receive dividends from African stocks?

Yes, in most African markets. Foreign investors can own shares and receive dividends. However, withholding taxes may differ — Kenya charges non-residents 15% (vs. 0% for residents), while Nigeria and Ghana apply the same rate regardless of residency. South Africa's 20% DWT applies to all, though double-taxation agreements may reduce the rate for investors from treaty countries. Currency repatriation rules and exchange controls also apply in some markets. Consult a local stockbroker or tax advisor for specifics.

What is the difference between an interim dividend and a final dividend?

An interim dividend is paid mid-year, typically after a company releases half-year (H1) results. A final dividend is declared after the full financial year results are published, and usually requires shareholder approval at the Annual General Meeting (AGM). Some companies pay both — for example, GTCO paid a ₦1.00 interim dividend in 2025 and then declared a ₦11.76 final dividend in 2026, bringing the total FY payout to ₦12.76/share. On the NSE, companies like KCB also paid interim and special dividends during 2025.

What is a bonus issue and how does it work?

A bonus issue (or scrip dividend) is when a company issues additional free shares to existing shareholders instead of, or alongside, a cash dividend. For example, NGX Group's "1 for 3" bonus means you receive one new share for every three you already hold. Bonus shares are not subject to withholding tax. They increase the total number of shares in issue, which may dilute the share price proportionally, though they signal management's confidence in the company's long-term prospects.

⚠ DisclaimerThis article is for informational purposes only and does not constitute investment advice. Data is sourced from official exchange filings, company SENS/NSE/NGX/GSE announcements, and verified financial news sources including BusinessDay NG, Punch NG, Kenya Times, Accra Street Journal, Simply Wall St, Stock Events, and africanfinancials.com. Dates and amounts are subject to change following AGM approvals, regulatory clearances, or company decisions. All investors are advised to verify data directly with the relevant company or registrar before making investment decisions. Mansa Markets is not liable for investment losses resulting from reliance on this page.

Sources & Last Verified

Nigerian data: NGX corporate action filings, Cowryvest.com, TRW Stockbrokers, BusinessDay, Punch, Proshare, africanfinancials.com, Investegate (GTCO SENS/RNS). Kenyan data: CDSC Kenya, Kenya Times, MyStocks.co.ke, theexchange.africa. Ghana data: Accra Street Journal, afx.kwayisi.org/gse, african-markets.com. South Africa data: Simply Wall St, Stock Events (SBGOF), DivvyDiary, Morningstar JSE, Moneyweb. Last verified: April 11, 2026.