CWG Plc (Computer Warehouse Group) yesterday released its results for the audited FY 2024. The company hiked its dividend payout by 143%. 

About the firm

CWG  was incorporated in Nigeria as a private limited liability company on 1 February 2005 and listed on the Nigerian Stock Exchange on the 15th  of November 2013.

The Group and the Company are principally engaged in integrated information and communications technology services and solutions, IT consultancy, supply, installation, maintenance and support of hardware, software, and managed services.

Revenue 

Revenue rose by 97% from N23.5 billion in 2023 to N46.3 billion in 2024. The 3 major components of revenue were Software revenue, Managed & support services, and IT Infrastructure services

Software’s the driver 

In my writeup on its 9M 2024 results, i had stated the company was more of a software firm now.

 It moved from being 16% of revenue in revenue in FY 2023, to 35% of revenue in FY 2024. It also accounted for 50.1% of gross profit during the period,

For FY 2024, software revenue had the biggest year on year increase. Gross profit growth in this segment.

What’s in for shareholders ?

Shareholders will get paid a 39 kobo dividend. That’s a 143% increase from the 16 kobo it paid for the FY 2023 financial year 

This amounts to a payout ratio of 32.2% of the N1.21 in earnings.

The dividend will be paid on Thursday, 10th April 2025 to shareholders whose names are registered in the Register of Members as at the close of business on Monday 7th April 2025.