Why is it believed that only GTCO and Zenith can at dividend in Nigeria

Many Nigerian investors talk about Guaranty Trust Holding Company Plc and Zenith Bank Plc as “dividend kings” because of their long record of relatively consistent profitability, strong cash generation, and regular dividend payments. But it is not accurate to say they are the only companies capable of paying dividends in Nigeria.
Other companies with decent dividend histories include:
United Bank for Africa Plc
Stanbic IBTC Holdings Plc
Nestlé Nigeria Plc
Seplat Energy Plc
Presco Plc
Okomu Oil Palm Plc
The reason GTCO and Zenith are especially respected is because:
They usually maintain high profits.
They have strong capital buffers.
Their management culture historically favors shareholder returns.
They tend to survive economic shocks better than weaker banks.
Their dividend yield is often attractive relative to inflation and treasury bills.
However, dividend investing should not be based only on past glory. A company can pay high dividends today and struggle tomorrow if earnings weaken.
On your question about Sterling Financial Holdings Company Plc and why tax jumped sharply:
If a company’s tax expense rises significantly while profit also rises, several things may be happening:
Higher taxable profit
More profit naturally means more corporate tax.
Deferred tax adjustments
Sometimes previous tax credits or losses expire.
Accounting adjustments can suddenly increase reported tax expense.
Windfall or special levies
Nigerian financial institutions occasionally face special regulatory or fiscal charges.
Reduced tax reliefs
If previous exemptions or incentives ended, tax expense rises faster than profit.
Foreign exchange gains becoming taxable
Some banks made large FX-related gains after naira devaluation.
Parts of those gains can increase taxable income.
A 76% jump in tax does not automatically mean something bad happened. In many cases, it simply reflects higher profitability or changes in accounting treatment.
Regarding the comment about a US stock moving from 156 to 200:
When people discuss US stocks, prices are almost always quoted in US dollars, not naira.
So if someone says:
“I bought at 156 and it is now 200,” they usually mean:
Bought at $156
Current price is $200
For example:
Apple Inc. shares trade in dollars.
NVIDIA Corporation shares trade in dollars.
And yes, many US stocks pay dividends, though not all.
Examples of strong dividend-paying US companies:
Coca-Cola Company
Johnson & Johnson
Procter & Gamble
But many growth companies either pay very small dividends or none at all because they reinvest profits into expansion.
Examples:
Amazon.com Inc. historically paid no dividend for many years.
Tesla Inc. currently does not pay dividends.
On whether it is advisable to buy a stock because a public figure believes in it:
That alone is not a sufficient reason.
A public figure may:
Have access to information you do not have.
Have a different risk tolerance.
Be investing for influence or strategic reasons.
Be able to absorb losses more easily than ordinary investors.
Instead of following personalities blindly, examine:
Revenue growth
Profit consistency
Debt level
Cash flow
Dividend history
Industry position
Management quality
Valuation
For example, if a respected investor buys a stock, treat it as:
“A signal to investigate further,”
not
“automatic proof the stock will succeed.”
Many investors lost money historically by blindly following famous names into overhyped companies.
A good principle is:
Understand why you are buying a stock before buying it.