Dividends Declared in 2026: Ghana GSE Companies — Amounts & Payment Dates

Last updated: July 9, 2026 | Reading time: ~7 minutes

Ghana's 2026 dividend season has been a bank-led affair — and a generous one. GCB Bank raised its final dividend to GH₵1.20 per share, a payout that works out to roughly a 12% yield at declaration. Standard Chartered Bank Ghana went even bigger in absolute terms with GH₵2.60 per share. MTN Ghana, the exchange's largest company by market value, paid its FY2025 final in May — and, per local press, has now begun paying quarterly dividends for the first time in its history.

This tracker covers GSE-listed companies with declared 2026 dividend events in our Ghana dividend calendar. Amounts are stated in Ghana cedis (GH₵) per share, gross before the 8% withholding tax deducted at source.

Quick summary:

• 4 tracked dividends from GSE-listed companies have been declared and paid in 2026 so far — MTN Ghana, Standard Chartered Ghana, GCB Bank and GOIL.
• Banking dominates the yield table: GCB (~12.0%) and StanChart (~11.5%) at declaration.
• Ghana deducts a flat 8% withholding tax on dividends — a final tax, so there is nothing further to file for individual investors.
• Coverage updates as new declarations arrive — Ghana's reporting season runs deep into the year, and interim dividends typically land in H2.

> Track live Ghana market data on the GSE market desk, browse corporate action filings in the disclosures hub, or see every African market's payouts in the 2026 African dividends tracker.

## Dividends Declared and Paid in 2026

Yields at declaration: GCB ~12.0%, SCB ~11.5%, MTNGH ~9.1%, GOIL ~4.4%. All amounts are gross, before the 8% withholding deduction.

## Company Notes — The Big Payers

GCB Bank — GH₵1.20 final. Ghana's largest indigenous bank stepped its final dividend up from the GH₵1.00 it paid for FY2024, extending a post-DDEP recovery in bank payouts. At the share price around declaration, GH₵1.20 translated to roughly a 12% yield — among the strongest cash returns on the exchange. The dividend went ex on May 15 and was paid on June 6, 2026.

Standard Chartered Bank Ghana — GH₵2.60 final. The biggest per-share cash payment in this year's GSE season so far. StanChart Ghana has long been one of the exchange's most reliable dividend machines, and the GH₵2.60 final for FY2025 — paid May 30 — kept its declaration yield in double digits (~11.5%).

MTN Ghana — GH₵0.272 final, plus a first-ever quarterly interim. The telecom giant paid its FY2025 final of GH₵0.272 per share on May 23 (~9.1% yield at declaration). More notable for income investors: Graphic Online reports that Scancom declared its first-ever quarterly dividend — a gross interim of 3 pesewas (GH₵0.03) per share for Q1 2026, payable June 18, 2026 — after first-quarter profit surged to GH₵2.48 billion. If MTN Ghana sustains a quarterly cadence, it becomes the only GSE stock paying four times a year.

GOIL — GH₵0.075 final. The state-linked fuel retailer paid GH₵0.075 per share on June 25, a modest ~4.4% yield but a consistent one — GOIL has paid a dividend every year for over a decade.

## What Stood Out This Season

Bank payouts have fully normalised after the DDEP years. Ghana's Domestic Debt Exchange Programme forced banks to suspend or slash dividends in 2023–24. The 2026 season — GCB up 20% year-on-year, StanChart paying GH₵2.60 — confirms the sector's capital position has recovered enough for regulators to wave through double-digit-yield distributions.

MTN Ghana is changing the payout rhythm. A quarterly dividend is a structural shift for the GSE, where even interim payments are rare outside the banks. It also compounds MTN's appeal for cedi income portfolios: the stock already carried a ~9% declaration yield on its annual final alone.

Declaration yields on the GSE remain among Africa's highest. Two double-digit yields from large-cap banks in a single season is unusual on most exchanges. Part of that is the cedi risk premium — but for local investors, the cash is real.

## How Ghana's Dividend Tax Works

Ghana applies a flat 8% withholding tax on dividends paid by resident companies, deducted at source by the registrar. It is a final tax — individual shareholders do not need to declare the income again. The 8% rate applies to residents and non-residents alike, though non-residents may check whether a double-tax treaty offers a better rate.

For comparison: Kenya charges residents 5% on NSE dividends, Nigeria 10%, and South Africa 20%. Ghana sits at the low end — one reason GSE dividend stocks screen well on an after-tax basis.

## How to Track GSE Dividends

Our Ghana dividend calendar tracks every declared GSE dividend with ex-dates, record dates, payment dates, declaration yields and US-dollar equivalents at official FX rates. The all-Africa calendar puts Ghana's season alongside 20 other exchanges.

A note on coverage: this tracker reflects dividends verified in our calendar and reputable local reporting as of the update date. Ghana's season is not finished — interim declarations (banks, MTN's new quarterly cycle) typically arrive in H2 2026, and this page updates as they are confirmed.

## FAQ

Which GSE companies have paid dividends in 2026? Four tracked payments so far: MTN Ghana (GH₵0.272, May 23), Standard Chartered Ghana (GH₵2.60, May 30), GCB Bank (GH₵1.20, June 6) and GOIL (GH₵0.075, June 25). MTN Ghana has also reportedly begun quarterly interim payments.

What is the dividend withholding tax in Ghana? 8%, deducted at source, final. You receive the net amount in your CSD-linked account.

What was the highest dividend yield on the GSE in 2026? At declaration, GCB Bank's GH₵1.20 final (~12.0%) edged out Standard Chartered Ghana's GH₵2.60 (~11.5%).

## Sources

• Mansa Markets Ghana dividend calendar — compiled from company declarations and GSE notices
• GCB Bank PLC — FY2025 results and final dividend declaration
• Standard Chartered Bank Ghana PLC — FY2025 final dividend notice
• Scancom PLC (MTN Ghana) — FY2025 final dividend; Graphic Online — first quarterly dividend report (graphic.com.gh)
• GOIL PLC — FY2025 final dividend notice
• Ghana Revenue Authority — withholding tax on dividends

This tracker is for informational purposes only and does not constitute investment advice. Declared amounts and dates can change if companies amend payment schedules after publication.