CSCS Declares First-Ever Interim Dividend After Record Half-Year Performance
The Central Securities Clearing System (CSCS) Plc has declared its first-ever interim dividend of ₦1.00 per ordinary share following a record financial performance in the first half of 2026.
The Board of Directors approved the interim dividend for the six months ended June 30, 2026, citing the company’s strong earnings, robust cash generation, resilient balance sheet and confidence in the sustainability of its financial performance.
The interim dividend represents 56 per cent of the total dividend of ₦1.78 per share paid for the 2025 financial year, reflecting the company’s strong earnings momentum and positive outlook.
CSCS recorded one of the strongest performances in its history during the review period, with total operating income rising by 92 per cent to ₦18.51 billion, driven by increased transaction fee income amid heightened capital market activity, growth in depository services, expansion in collateral management revenues and higher contributions from data and technology-enabled services. Investment income also improved as the company optimised its investment portfolio.
The company’s disciplined cost management contributed significantly to its performance, with operating expenses rising by only 38 per cent despite the sharp increase in revenue. Consequently, operating profit surged by 186 per cent to ₦10.11 billion, while profit before tax rose by 115 per cent to ₦13.21 billion. Earnings per share increased from 109.1 kobo in the corresponding period of 2025 to 190.1 kobo.
CSCS also posted stronger operational efficiency during the period, with its cost-to-income ratio improving to 45.4 per cent from 63.2 per cent a year earlier, while operating profit margin increased to 54.6 per cent from 36.8 per cent.
Commenting on the Board’s decision, Chairman of CSCS Plc, Temi Popoola, said the interim dividend reflected the Board’s confidence in the company’s financial strength, quality of earnings and long-term strategic direction.
He noted that the performance was driven not only by stronger capital market activity but also by improved operational efficiency, disciplined cost management and continued diversification of revenue streams.
Popoola added that the Board remained committed to balancing shareholder returns with sustained investments in technology, innovation, resilience and new growth opportunities to strengthen CSCS’ position as Nigeria’s leading financial market infrastructure and one of Africa’s foremost post-trade institutions.
Also speaking, the Managing Director and Chief Executive Officer of CSCS Plc, Shehu Yahaya Shantali, attributed the strong performance to the resilience of the company’s business model, the commitment of its workforce and the continued confidence of market participants.
He described the declaration of the company’s first interim dividend as evidence of its ability to convert improved earnings and operational efficiency into enhanced shareholder value.
Shantali said CSCS would continue to focus on strengthening its core market infrastructure, investing in technology and innovation, expanding its revenue base and delivering greater value to stakeholders while supporting the growth and development of Nigeria’s capital market.
For the first half of 2026, CSCS reported operating income of ₦18.51 billion, operating profit of ₦10.11 billion, profit before tax of ₦13.21 billion, earnings per share of 190.1 kobo, a cost-to-income ratio of 45.4 per cent and an operating profit margin of 54.6 per cent, alongside its historic interim dividend of ₦1.00 per ordinary share.
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