List of banks in Nigeria offering highest dividend yields

The greatest asset of the future will be stocks with strong dividend-yield prospects. One of the easiest ways to make an avoidable mistake is getting involved in investments that are overly complex.

People do not have patience to build a business for 5 years but they have patience to go to work for 35 years at the expense of inheriting a clock.”Many of us have spent our entire careers working in no more than a handful of different industries.

There are too many fish in the sea to get hung up on studying a company or industry that is just too hard to understand. That is why Warren Buffett has historically avoided investing in the technology sector.

The difference between successful people and really successful people is that really successful people say no to almost everything.”

“You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.” Just like Warren Buffett said, time is the friend of the wonderful business. Fundamentals can take years to impact a stock’s price, and only patient investors are rewarded.

many dividend stocks are currently gaining momentum and offering investors a stable option for earning passive income. Here’s a list of Nigerian banks currently posting high dividend yields.

 

List of Nigerian banks offering highest dividend yields

1. Stanbic IBTC Bank

most recent result revealed the bank’s profit before tax stood at N12.1 billion in Q1, lower by 50% from N24.4 billion in Q1 2020, recent data from Nigeria’s stock market reveals that investors are increasingly buying the bank’s shares as its share price of N46 is within its 52 weeks high of N53.25.

2. Guaranty Trust Bank

The bank earlier reported that its total deposit for Q1 2021 grew to N3.717 trillion, representing a 3.0% surge compared to N3.611 trillion recorded in Q1’20.

3. Zenith Bank Plc

Zenith Bank remains of the Nigerian blue-chip stocks offering a decent dividend yield currently pegged at 13.2%. The tier 1 bank’s profit before tax ticked up by 3.8% to N61 billion. Also, its profit after tax grew by 5% to N53 billion.

4. Access Bank

The bank recorded decent gross earnings of N222.1 billion, posting a gain of 6% from N202.98 billion posted in the corresponding period of 2020. The bank also posts a decent dividend yield of about 9.82%.

5. Fidelity Bank

Fidelity Bank recently astonished market analysts when it posted a profit after tax for Q1’2021 which swelled by nearly two-thirds, with profit before income tax expense surging from N6.85 billion (for the corresponding period of 2020) to N10.13 billion in Q1 2021.

Please note: The stock market is an unpredictable, dynamic force. We need to be very selective with the news we choose to listen to, much less act on. In my opinion, this is one of the most important pieces of investment advice

Remember that SALARY alone can not solve your money problems. You need Secondary Source of income to balance. SALARY is the MEDICINE for managing POVERTY, it doesn’t CURE it. Only your BUSINESS or INVESTMENT Cures Poverty. Be Financially Intelligent… Have a Plan B

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