GTCO Delivers 63% YTD Return Ahead of Dividend Payment
With a 63.2% year-to-date (YTD) return, GTCO market value declined by N36.45 billion due to a soft bearish touch on the most valuable financial services group in the Nigerian stock market.
The price depreciation came ahead of the group’s interim dividend scheduled for payment in October 15, a week after qualification date – for a group with sufficient cash flow.
Data from the Nigerian Exchange showed that GTCO share price declined to N93 week on week from N94 at the beginning of trading session.
The market saw huge volume transactions that kept price range bound between N90 and N93 during trading activities that lasted for five days. The trading pattern reflects GTCO’s shareholders understanding of time and season following its one off sharp decline in bottom line.
Stockbrokers and market analysts anticipate investors will step up bargain hunting ahead of dividends payment qualification date. Afrinvest Securities Limited set N109.82 as GTCO’s price target, translating to 18% upside potential at a reference price of N93.
GTCO profit declined by 50.4% year on year to N449 billion in the first half of 2025. “It is unlike GTCO to post 50% decline in profitability,” a stockbroker said in a chat after the group’s first half earnings announcement.
Amidst reduced profitability, directors proposed the payment of an interim dividend in the sum of N1.00k per ordinary share on the issued capital of 34,136,979,514 ordinary shares of 50 kobo each.
The amount is payable to shareholders on the register of shareholding at the closure date set as Oct 8, subject to withholding tax. GTCO will pay the interim dividend electronically on Oct 15 to eligible shareholders.
According to the Register of Members as at June 30, 2025, no individual shareholder held more than 5% of the issued share capital of the Company except Stanbic IBTC Nominees Limited and Zenith Pensions Custodian Limited.
Stanbic IBTC Nominees Limited held 24.21% of the shares in GTCO largely in trading accounts on behalf of various investors. Zenith Pensions Custodian Limited 7.34% of the Company’s shares largely in trading accounts on behalf of various pension funds. UBA Gains, Delivers 43.54% Return Ahead of Dividend Payment
