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Companies

First Bank MD/CEO leads conversation on an empowered continent at LSE Africa Summit 2018

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First-Bank

First Bank of Nigeria Limited is partnering with The London School of Economics  (LSE) to present the fifth LSE Annual Africa Summit with the theme Africa at Work: Educated. Employed. Empowered’. The summit presents the opportunity to discuss the spate of social, economic and security challenges in Africa with the intent to influence policies that will create a rebirth, an inclusive and sustainable growth in the continent. The event is scheduled for April 20 and 21, 2018 at the London School of Economics London, United Kingdom.

The summit would convene several high level speakers to deliberate on topical issues affecting the African continent and the MD/CEO, First Bank of Nigeria Limited, Dr. Adesola Adeduntan would be leading the panel discussion on “Enrolment to Employment: Learning in Context”.

Other deliberations in the conference would include: Bridging the Skills, Education and Training Gaps; Entrepreneurship as an Engine for Job Creation and Inclusive Growth; Laws, Regulations and Policies; The Impact of Technology and Digitalisation on Jobs and Economic Growth and The Role of The Booming Creative Industries in Socio-Economic Development.

Speakers at the event include: Dara Tresder, CMO of General Electric Business Innovations; Mosun Belo-Olusoga, Chairman at Access Bank Plc; David Steinacker Senior Managing Partner at Google; Lance Mambondiani, CEO of Steward Bank, amongst others.

According to Folake Ani-Mumuney, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, “FirstBank is committed to supporting initiatives that influence policies and create a more empowered continent, especially for our youth. We have continued to build Africa’s future for over a century and as we turn 125, we will not relent but would ensure the necessary collaborations happen to create the Africa we all desire”.

 

About FirstBank

First Bank of Nigeria Limited (FirstBank) is Nigeria’s premier and most valuable banking brand, and largest financial services institution by total assets and gross earnings. With more than 14 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services.

The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as its Representative Office in Beijing.

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimized risk management and leadership.

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Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row – 2011, 2012, 2013, 2014, 2015, 2016 – by the globally renowned “The Banker Magazine” of the Financial Times Group; and “Most Innovative Bank in Africa” in the EMEA Finance African Banking Awards 2014.

Recently, for the sixth consecutive time, the Bank clinched the “Best Retail Bank in Nigeria” award by The Asian Banker. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”.

Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

 

Folake Ani-Mumuney
Group Head, Marketing & Corporate Communications

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NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Companies

Africa Prudential proposes dividend of N1 billion for shareholders

Africa Prudential Plc has proposed a sum of N1 billion as dividend for shareholders.

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African Prudential could be worth more than N4.55

The Board of Directors of Africa Prudential Plc has proposed a sum of N1 billion as dividend to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the firm’s secretary, Joseph Jibunoh and sent to the Nigerian Stock Exchange, as seen by Nairametrics.

According to the notification, the proposed dividend will be paid electronically to qualified shareholders on the 26th of March, 2021, subject to appropriate withholding tax and approval from the company’s Annual General Meeting (AGM) scheduled a day earlier.

The breakdown of the proposed dividend shows that a sum of 50 kobo will be paid for each outstanding 2,000,000,000 ordinary shares of the company, held by its shareholders, totalling N1 billion. The proposed dividend is 28.6% lower than the 2019 figures of N1.4 billion.

The comparative decline in the company’s proposed dividend for the year might be attributed to a recent dip in profit and other key metrics recorded by the firm in its latest audited financial statement for 2020. For example, the firm posted a profit of N1.45 billion for the year, indicating a decline of 13.98% YoY. In addition, its earnings per share declined by 14.29% to print at 72 kobo.

What you should know

  • Africa Prudential had recently announced the appointment of Mrs Zubaida Rasheed as Director.
  • Africa Prudential Plc, formerly known as UBA Registrars Ltd, was incorporated as a private limited liability company on 23rd March 2006. It was listed in the NSE on 17th of January, 2013.

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Companies

Dangote Sugar proposes N18.2 billion as final dividend for 2020

Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.

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Dangote Sugar proposes N18.2 billion as final dividend for 2020

The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.

This announcement was contained in the audited financial statement of the leading integrated sugar company.

In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.

The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.

What you should know

  • Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
  • According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
  • At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
  • At this price, the dividend yield of Dangote Sugar shares is 8.40%.

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