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Four companies listed on the Nigerian Exchange (NGX) are set to put shareholders on the dividend radar in September and October 2026, with PZ Cussons Nigeria Plc offering the biggest payout at N2.50 per share.
The companies Red Star Express Plc, Learn Africa Plc, Academy Press Plc and PZ Cussons Nigeria Plc have proposed final dividends for their respective financial years ended March and May 2026.
Their qualification dates determine which investors will be captured on the companies’ registers and therefore become eligible for the declared payouts, subject to the terms of each corporate action.
Red Star Express Leads September Countdown
The first qualification date on the calendar was September 1, 2026, for Red Star Express Plc.
The logistics and courier company proposed a final dividend of N0.45 per share, with payment scheduled for September 18.
Red Star Express reported revenue of N23.49 billion for the year ended March 2026, representing an 8.47% increase from N21.66 billion a year earlier.
Profit after tax also rose by 7.09% to N585 million, compared with N547 million in the preceding year.
Its retained earnings increased 9.16% to N3.15 billion from N2.89 billion, while earnings per share improved to N0.61 from N0.57.
Learn Africa Targets September 11 Qualification Date
Next on the dividend calendar is Learn Africa Plc, whose qualification date is September 11, with shareholders expected to receive the proposed payment of N0.35 per share on September 25.
The educational publishing and content company delivered stronger financial results during the year.
Revenue climbed 18.74% to N6.15 billion, compared with N5.18 billion in the previous year, while profit after tax increased 58.56% to N753 million from N475 million.
Learn Africa’s retained earnings rose 28.59% to N2.17 billion, while earnings per share increased from N0.62 to N0.87.
Academy Press Keeps Dividend Despite Profit Drop
Academy Press Plc has set September 16 as its qualification date for a proposed N0.10 per share final dividend, with payment expected on September 25.
The printing and publishing company, however, recorded weaker earnings during the year ended March 2026.
Revenue declined 3.75% to N4.41 billion, from N4.59 billion in the preceding year.
Profit after tax fell sharply by 64.65%, from N716 million to N253 million.
Despite the earnings decline, Academy Press maintained its proposed dividend. Retained earnings increased 20.09% to N581 million from N484 million, although earnings per share dropped to N0.317 from N0.796.
PZ Cussons Offers Biggest Payout
The most substantial dividend among the four companies comes from PZ Cussons Nigeria Plc, which has proposed a N2.50 per share final dividend for the financial year ended May 2026.
The company’s qualification date is October 9, while payment is expected on October 30.
The payout follows a significant improvement in PZ Cussons’ financial performance.
Revenue rose 22.49% to N260.46 billion, compared with N212.63 billion in the previous year.
More significantly, profit after tax surged 348.71% to N45.17 billion, up from N10.07 billion.
The company also moved from negative retained earnings of N38.77 billion to positive retained earnings of N4.39 billion, representing a turnaround of N43.16 billion.
Earnings per share consequently increased to N10.87, compared with N2.32 a year earlier.
Three Stocks Also Feature in September Dividend List
The four qualification dates form part of a wider dividend season on the NGX.
Earlier disclosures identified eight listed companies scheduled to make dividend payments in September. The list includes Ikeja Hotel, MTN Nigeria Communications, Custodian Investment, Honeywell Flour Mills, Red Star Express, University Press, Academy Press and Learn Africa, alongside a distribution from UPDC Real Estate Investment Trust.
MTN Nigeria has proposed an interim dividend for its 2026 financial year and represents the largest payout by value among the companies scheduled for September distributions.
Red Star Express, Learn Africa and Academy Press feature in both the broader September payment calendar and the latest qualification-date schedule.
Why Qualification Dates Matter
For investors pursuing dividend income, the qualification date is a critical date on the corporate-action calendar.
It determines the shareholders recorded on a company’s register and, consequently, those eligible to receive the declared dividend.
The four companies therefore offer investors a spread of dividend opportunities across logistics, education and publishing, printing, and consumer goods, while their differing financial results also highlight the varied earnings conditions among NGX-listed companies.
With September distributions already underway and PZ Cussons’ larger payout scheduled for October, dividend-focused investors will be watching the respective qualification dates closely as the 2026 earnings and distribution season progresses.
