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Why haven’t NGX Group bonus shares been credited after the dividend payment date in Nigeria?
You’re asking the right question—and this confusion is very common. The key thing you need to understand is this: 👉 Dividend payment date ≠ Bonus share credit date Let’s break down your exact case with Nigerian Exchange Group. 🧠 1. What NGX Group actually announced For 2025 results: Dividend paymentRead more
You’re asking the right question—and this confusion is very common. The key thing you need to understand is this:
See less👉 Dividend payment date ≠ Bonus share credit date
Let’s break down your exact case with Nigerian Exchange Group.
🧠 1. What NGX Group actually announced
For 2025 results:
Dividend payment date → 29 April 2026
Bonus issue → 1 new share for every 3 shares held
Qualification date → 10 April 2026
But here is the critical line most people miss:
👉 “Bonus allotment date will be communicated after approvals.”
⚠️ 2. Why you haven’t received your bonus shares yet
Unlike dividends (cash), bonus shares go through extra processes:
Before bonus shares are credited, they must pass:
Shareholders’ approval at AGM (which just happened around April 29)
Regulatory approval (NGX + SEC)
Registrar processing (DataMax Registrars)
👉 Until these are completed, shares cannot be credited
⏳ 3. When will the bonus shares be released?
There is no fixed date yet.
Official position: 👉 “To be communicated” after approvals
Realistic timeline (based on market practice):
Usually 2 to 4 weeks after AGM
Sometimes slightly longer if approvals delay
So expect: 👉 Mid–May to early June (typical window)
🔄 4. How the bonus shares will appear
You don’t need to do anything.
Once processed:
Shares will be credited to your CSCS account
Then reflect on your broker/app (e.g. InvestNaija)
Example:
If you had:
300 shares
You will receive:
+100 shares (1 for 3)
👉 Total = 400 shares
📉 5. Important: Price adjustment
When bonus is issued:
Share price will drop proportionally
Your total value stays roughly the same
👉 Same principle as dividends (just structured differently)
🧾 6. Summary (clear answer to your question)
✔ Dividend paid on April 29 = correct
❌ Bonus shares are NOT paid same day
✔ Bonus shares come after approvals
⏳ Timeline = usually a few weeks after AGM
✔ You will receive it automatically if you qualified
🔍 Final insight (important for you)
Dividend = cash payout (fast)
Bonus = capital restructuring (slower process)
That’s why you’ve received one and not the other yet.