Dividends Declared in 2026: Morocco Casablanca Companies — Amounts & Payment Dates

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

Casablanca is North Africa's most institutional dividend market — a bourse where the MASI's heavyweight banks and Maroc Telecom distribute tens of billions of dirhams each spring with Swiss-watch regularity. The 2026 season kept the rhythm: Maroc Telecom paid MAD 6.10 per share in early June, Attijariwafa Bank followed with MAD 17, and Banque Centrale Populaire (BCP) closed the tracked trio with MAD 11.50.

This tracker covers Casablanca-listed companies with declared 2026 dividend events in our Morocco dividend calendar. Amounts are in Moroccan dirhams (MAD) per share, gross before withholding tax.

Quick summary:

• 3 tracked dividends declared and paid so far in 2026 — Maroc Telecom, Attijariwafa Bank and BCP, all FY2025 finals paid in early June.
• Maroc Telecom carried the highest declaration yield of the three at ~6.8%.
• Morocco has been phasing its dividend withholding tax down from 15% toward 10% under the 2023 Finance Law; distributions from recent profit years attract the reduced schedule.
• Coverage updates as declarations arrive — Casablanca's payer list runs far deeper than three names, with insurers, cement and mining companies declaring through Q2 and Q3.

> Track live Morocco market data on the Casablanca market desk, or put the MASI's payouts alongside 20 other exchanges in the 2026 African dividends tracker.

## Dividends Declared and Paid in 2026

Yields at declaration: Maroc Telecom ~6.8%, BCP ~4.1%, Attijariwafa ~3.4%. Amounts are gross, before withholding.

## Company Notes

Maroc Telecom — MAD 6.10. The kingdom's telecom incumbent remains the MASI's signature income stock. IAM's policy is to distribute essentially all of its distributable earnings, and the MAD 6.10 per share for FY2025 — ex May 9, paid June 2 — delivered the highest declaration yield of the tracked trio at ~6.8%. With operations across ten African markets via its Moov subsidiaries, IAM's payout is effectively a pan-African cash-flow claim denominated in dirhams.

Attijariwafa Bank — MAD 17.00. Morocco's largest bank — and one of Africa's largest by assets — paid MAD 17 per share on June 4. The absolute cheque is the biggest of the three, though Attijariwafa's premium valuation keeps the yield near 3.4%. The bank's continued expansion across Francophone Africa has not come at the expense of the payout, which has trended upward for years.

Banque Centrale Populaire — MAD 11.50. BCP's cooperative-anchored retail franchise generates dependable distributable earnings, and the MAD 11.50 final (ex May 14, paid June 6) yielded ~4.1% at declaration — the middle of the tracked pack, and a slight premium to Attijariwafa on yield.

## What Stood Out This Season

Clockwork concentration in early June. All three tracked payments landed within five calendar days (June 2–6), following ex-dates spaced across a single week of May. Casablanca's dividend season is the most predictable in Africa: AGMs in spring, detachment in May, cash in June.

Telecom out-yields the banks. Maroc Telecom's ~6.8% declaration yield roughly doubles Attijariwafa's. Moroccan bank stocks trade at premium multiples on growth and pan-African expansion narratives, while IAM is priced as the mature cash cow — income investors get paid for that maturity.

A falling tax wedge. Morocco's progressive reduction of the dividend withholding rate (from 15% toward 10% for profits generated from 2023 onward) means each successive season leaves marginally more cash in shareholders' hands — an underappreciated tailwind for MASI income strategies.

## How Morocco's Dividend Tax Works

Morocco historically withheld 15% on dividends. The 2023 Finance Law introduced a phased reduction toward 10%, applying progressively to distributions made out of profits generated from 2023 onward — so the effective rate on a 2026 distribution depends on which profit years fund it, stepping down year by year until the 10% rate is fully in force. The tax is withheld at source; non-residents should also check Morocco's wide double-tax-treaty network, one of Africa's largest.

## How to Track Casablanca Dividends

Our Morocco dividend calendar tracks declared Casablanca dividends with ex-dates, record dates, payment dates, declaration yields and USD equivalents at official FX rates. For the continental view, see the 2026 African dividends tracker.

A note on coverage: this page reflects dividends verified in our calendar as of the update date. Casablanca lists over 70 companies and many more 2026 distributions than the three tracked here — insurers, cement, mining and consumer names declare through Q2–Q3, and coverage expands as dates are confirmed.

## FAQ

Which Casablanca companies have paid dividends in 2026? Three tracked so far: Maroc Telecom (MAD 6.10, paid June 2), Attijariwafa Bank (MAD 17, paid June 4) and BCP (MAD 11.50, paid June 6).

What is the dividend withholding tax in Morocco? Historically 15%, now being phased down toward 10% under the 2023 Finance Law for distributions out of profits generated from 2023 onward.

Which Casablanca stock had the highest yield in 2026? Among tracked names, Maroc Telecom — MAD 6.10 per share was roughly a 6.8% yield at declaration.

## Sources

• Mansa Markets Morocco dividend calendar — compiled from company declarations and Bourse de Casablanca notices
• Itissalat Al-Maghrib (Maroc Telecom) — FY2025 results and dividend notice
• Attijariwafa Bank — FY2025 AGM resolutions and dividend notice
• Banque Centrale Populaire — FY2025 AGM resolutions and dividend notice
• Moroccan Finance Law 2023 — phased reduction of dividend withholding tax

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.