All Dividends & Bonus Issues Declared in 2026 by NASD OTC Companies
As Nigerian companies release their audited 2025 full-year financial results, dividend declarations are rolling in, including from companies trading on the NASD Over-the-Counter Securities Exchange, Nigeria’s regulated platform for unlisted public companies. This page is your single reference for all dividends and bonus issues declared in 2026 by NASD-listed companies.
The tables below include each company’s dividend per share, any bonus issue, the qualification date, closure of register period, AGM date, payment date, and registrar where available. All dividends are subject to 10% withholding tax (WHT) at source unless otherwise stated.
This page is updated monthly as new declarations are filed with NASD. Bookmark it and check back for the latest additions. If you want the main-board version too, see our 2026 NGX dividend tracker.
📅 Qualification Date
The cut-off date. Your shares must settle before this date for you to receive the declared dividend or bonus issue.
🏦 NASD Broker Access
You need a broker that is a NASD Participating Institution. Your existing CSCS account still works across both NGX and NASD.
🎁 Bonus Issues
A bonus issue means free extra shares are allotted to existing shareholders. No cash is paid, and no withholding tax is deducted.
📋 Registrar
The registrar manages the shareholder register, e-dividend payments, and any revalidation or unclaimed-dividend process.
What is the NASD OTC Securities Exchange?
The NASD OTC Securities Exchange is Nigeria’s regulated over-the-counter market for trading shares of public companies that are not listed on the NGX. Companies such as CSCS Plc, Afriland Properties Plc, Access Bank Plc, FrieslandCampina WAMCO Nigeria Plc, Okitipupa Oil Palm Plc, and Dufil Prima Foods Plc trade there.
All NASD securities use CSCS for settlement and clearing, so the same CSCS account you use for NGX investments works for NASD too. You simply need a broker that is registered as a NASD Participating Institution. If you are new to the OTC market, start with what NASD OTC is, then read how NASD differs from NGX and how to buy shares on NASD.
Useful context: NASD and NGX settle through the same CSCS system, but liquidity, disclosure frequency, and trading access are usually thinner on NASD. That is exactly why a dedicated dividend and bonus tracker matters here.
2026 NASD Dividends & Bonus Issues, Full Tracker
Scroll horizontally to view all columns. Tables are grouped into already paid, upcoming declarations, bonus issues, and historically active NASD names still awaiting 2026 announcements.
Already Paid
| Company | Ticker | Dividend / Share | Type | Qualification Date | Closure of Register | Payment Date | Registrar |
|---|---|---|---|---|---|---|---|
| Newrest ASL Nigeria Plc | SDNEWREST | ₦10.83 | Interim | N/A | N/A | Mar 6, 2026 | Meristem |
| Food Concepts Plc (Chicken Republic) | SDFOODCPT | ₦0.10 | 2026 Interim | Mar 24, 2026 | Mar 25–27, 2026 | Mar 31, 2026 | TBA |
| Afriland Properties Plc (prior interim, already paid) | SDAFRILAND | ₦0.13 | Interim | Aug 5, 2024 | Aug 6–9, 2024 | Paid H2 2025 | Africa Prudential |
| CSCS Plc | SDCSCSPLC | ₦1.78 | Final FY2025 | Apr 9, 2026 | Apr 10–14, 2026 | Apr 23, 2026 | TBA |
Declared, Payment Upcoming or TBC
| Company | Ticker | Dividend / Share | Bonus Issue | Type | Qualification Date | AGM Date | Payment Date | Registrar |
|---|---|---|---|---|---|---|---|---|
| Afriland Properties Plc (Final) | SDAFRILAND | ₦0.11 final (₦0.24 total FY) | None | Final FY2025 | TBC | Apr 24, 2026 | TBC | Africa Prudential |
| Capital Bancorp Plc | SDCBANCO | ₦0.10 | None | FY2025 Interim | TBC | TBC | TBC | TBA |
| InfraCredit Plc | SDINFRACREDT | ₦0.22 | None | Final FY2025 | TBC | Pending | TBC | TBA |
Bonus Issues Declared in 2026
| Company | Ticker | Bonus Ratio | Qualification Date | Closure of Register | Status | Registrar |
|---|---|---|---|---|---|---|
| UBN Property Plc | SDUBNPROP | 3 new shares for every 40 held | Mar 6, 2026 | TBC | Qualification passed, allotment pending | CardinalStone |
| Vitafoam Products Plc (NASD entity) | SDVITPROD | 1 new share for every 5 held | Feb 6, 2026 | Feb 9–13, 2026 | Approved at AGM, Mar 5, 2026 | Meristem |
Expected, Not Yet Declared
| Company | Ticker | Historical Dividend | Status | Notes |
|---|---|---|---|---|
| Access Bank Plc | SDACCESS | ₦0.85 to ₦1.50 range | Not yet declared | Separate NASD entity from Access Holdings on NGX. Parent dividend still awaits CBN clearance. |
| FrieslandCampina WAMCO Nigeria Plc | SDFCWAMCO | ₦6.74 (2021), ₦1.10 (H2 2021) | Not yet declared | Parent restructuring continues, and 2025 results were not yet published on NASD as of May 2. |
| NIPCO Plc | SDNIPCOPLC | ₦3.00 per share | Not yet declared | Institutional interest remains high after the October 2025 Savannah Energy PIPE deal. |
| 11 Plc | SD11PLC | Historical NGX payer | Not yet declared | Former Mobil Oil Nigeria, now a NASD-traded unlisted public company. NASD dividend history is still limited. |
Notes: Afriland’s total FY2025 payout of ₦0.24 per share combines the ₦0.13 interim already paid and the ₦0.11 final approved later. Vitafoam Products Plc on NASD (SDVITPROD) is a separate legal entity from Vitafoam Nigeria Plc (VITAFOAM) listed on the NGX. TBC and TBA entries mean the relevant details were not yet published in the latest NASD filing reviewed on May 2, 2026.
How to Qualify for a NASD Dividend
To receive a dividend declared by a NASD-listed company, you must meet four conditions:
1. Own the shares before the qualification date. Your name must appear in the company’s Register of Members on or before the qualification date. Under Nigeria’s T+2 settlement cycle, you generally need to buy at least two trading days before the qualification date for settlement to complete in time.
2. Use a NASD-enabled broker. Not all stockbrokers trade on NASD. Brokers registered as Participating Institutions include Coronation Securities, CardinalStone, Meristem, Afrinvest, APT Securities, and Stanbic IBTC Stockbrokers.
3. Complete your e-dividend registration. Dividends are paid electronically. Download the e-dividend mandate activation form from the company’s registrar, link your CSCS account number to a valid Nigerian bank account, and submit it to the registrar.
4. Do not sell before the qualification date. Selling your shares on or before the qualification date disqualifies you from receiving the dividend. Selling after the qualification date does not affect your eligibility.
Company Notes
Newrest ASL Nigeria Plc (SDNEWREST), ₦10.83 interim
Newrest provides airport and airline catering at Nigerian airports. The ₦10.83 per share payout compares with ₦10.00 paid in the same period of 2025, an 8.3% year-on-year increase that reflects continued recovery in Nigerian aviation activity. The company joined NASD in June 2020 after leaving the NGX.
Food Concepts Plc (SDFOODCPT), ₦0.10 interim
Food Concepts is the parent company of Chicken Republic and PieXpress, with more than 240 outlets across 25 Nigerian states and Ghana. The 10 kobo dividend is a 2026 financial year interim payout. Food Concepts ended FY2024 with ₦95.3 billion in revenue, up 44%, while EBITDA margins improved. The stock also surged 112.5% in 2025 on NASD, making it one of the platform’s biggest names by market value.
CSCS Plc (SDCSCSPLC), ₦1.78 final
CSCS is the clearing and depository backbone of Nigeria’s capital market, every NGX and NASD trade passes through it. The ₦1.78 final dividend for FY2025 is a slight improvement on the ₦1.76 paid for FY2024, supported by ₦23.21 billion in total revenue as transaction and depository fees expanded with market activity.
Afriland Properties Plc (SDAFRILAND), ₦0.24 total FY payout
Backed by Tony Elumelu’s Heirs Holdings, Afriland is one of Nigeria’s more active real estate development and investment companies, with assets in Lagos, Abuja, and Port Harcourt. FY2025 revenue grew 8% to ₦4.07 billion, while total assets expanded 33% to ₦65 billion. The full-year payout of ₦0.24 per share is made up of the ₦0.13 interim already paid and the ₦0.11 final approved at the April 24, 2026 AGM.
InfraCredit Plc (SDINFRACREDT), ₦0.22 final
InfraCredit is Nigeria’s first domestic infrastructure credit guarantor and is backed by the UK MOBILIST programme, Nigerian pension funds, and the Africa Finance Corporation. In late 2025 it completed the full redemption of USD preference shares worth $28.93 million held by AFC and InfraCoAfrica, materially strengthening its balance sheet. The 22 kobo dividend was declared alongside the AGM notice filed on NASD.
Vitafoam Products Plc (SDVITPROD), 1-for-5 bonus
This NASD entity is separate from Vitafoam Nigeria Plc (VITAFOAM) on the NGX. The 1-for-5 bonus issue was declared from retained earnings alongside a ₦3.00 dividend and approved at the AGM on March 5, 2026. A total of 250.17 million new ordinary shares were created, taking issued share capital from ₦625.42 million to ₦750.51 million.
UBN Property Plc (SDUBNPROP), 3-for-40 bonus
UBN Property is Union Bank’s property subsidiary. The company declared a 3-for-40 bonus issue with qualification date of March 6, 2026. No cash dividend accompanied the allotment, and the qualifying date has passed while investors wait for final allotment processing.
Frequently Asked Questions
What is the closure of register period on NASD?
During the closure period, usually a few business days immediately after the qualification date, the company locks its register to determine which shareholders are entitled to receive the dividend or bonus issue. Trading can continue, but late purchases may not settle in time.
Can I receive NASD dividends through my existing stockbroker?
Yes, but only if your broker is a registered NASD Participating Institution. Your CSCS account number stays the same across NGX and NASD, but the broker still needs NASD dealing rights to execute OTC trades and process your holdings properly.
How do I claim unclaimed NASD dividends?
Contact the company’s registrar directly with your CSCS account number, valid ID, and any supporting shareholding documents. The registrar will guide you through revalidation, e-dividend activation, or unclaimed-dividend recovery. You can also check our guide to claiming unclaimed dividends in Nigeria.
Why do fewer NASD companies pay dividends compared to NGX?
Many NASD companies are smaller, more tightly held, or still prioritising reinvestment, restructuring, or balance-sheet strengthening over annual cash payouts. Liquidity and disclosure cadence also tend to be lighter than on the NGX main board, which makes dividend patterns less predictable.
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Data compiled from: NASD OTC Securities Exchange disclosures; company AGM notices and resolutions; registrar notices where available; company annual reports and investor communications; NGX Pulse internal market research. Last verified: May 2, 2026.