Big Payouts in May 2026: MTN, Okomu Oil, Seplat, BUA Cement & Zenith Bank Lead 18 NGX Dividend Stocks

Investors on the Nigerian Exchange (NGX) have something to look forward to in May 2026, as 18 listed companies are set to pay out dividends led by some of Nigeria’s biggest corporate names. According to corporate filings compiled by Nairalytics (the research arm of Nairametrics), MTN Nigeria, Okomu Oil Palm, Seplat Energy, BUA Cement, and Zenith Bank top the list.

MTN and Okomu Oil are proposing a final dividend of ₦15 per share each. Seplat Energy is paying approximately ₦12.60 per share for the first quarter of 2026. BUA Cement declared ₦10 per share, slightly higher than Zenith Bank’s final dividend of ₦8.75 per share.

MTN Nigeria takes the lead with its ₦15 per share dividend, payable on May 5, 2026 a reflection of the telecom giant’s strong cash flow and market dominance. Following a major profit recovery in the 2025 financial year, MTN’s total dividend for the year reached ₦20 per share. The payout will be made electronically to shareholders on the register as of April 8, 2026, provided they have completed e-dividend registration.

MTN’s audited 2025 results show a dramatic turnaround: revenue surged 54.9% year-on-year to ₦5.20 trillion, swinging from a pre-tax loss of ₦550.3 billion in 2024 to a record pre-tax profit of ₦1.70 trillion in 2025. Profit after tax closed at ₦1.11 trillion, compared to a ₦400.4 billion loss the previous year, while earnings per share jumped to ₦53.07 from -₦19.05.