Fidelity Bank Plc has proposed a dividend payment of 11 kobo per 50 kobo share, subject to shareholders’ approval and appropriate withholding tax.

According to a notice to the Nigerian Stock Exchange (NSE), this represents  N3.186 billion final dividend for the full year ended December 31, 2018.

Register of members closes April – The notice further stated that the register of shareholders will close by April 15 – 19, 2019.

Date of payment – The dividend, which is subject to withholding tax, will be paid to shareholders whose names appears on the register of members at the close of business on the 26th of April 2019.

The banks’s financial statement for 2018

Gross earnings – Gross earnings for the year increased to N188.87 billion from N180.24 billion declared in 2017 financial year end, indicating a 4.8 percent increase.

Profit Before Tax – The notice further showed that the bank’s Profit before tax (PBT) rose to N25.08 billion from N19.21 billion posted in 2017, representing 30.6 percent increase.

Profit After Tax – Profit after tax (PAT) grew by 29 percent to N22.93 billion for the period ended December 31, 2018 when compared to N17.77 billion recorded in 2017.

The banks’s comment on their 2018 financial statement – The Chief Executive Officer (CEO) of the bank, Nnamdi Okonkwo, said the following about the bank’s performance-

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“We are delighted by our 2018 numbers, which clearly shows a sustained performance trajectory. We are growing our market share with continued traction in our chosen business segments. We recoded double digits growth in interest income on our liquid assets, digital banking, FX and other income lines.”

About Fidelity Bank Plc

Fidelity Bank Plc began operation in 1988 as Fidelity Union Merchant Bank Limited. By 1999, it converted to a commercial bank and changed its name to Fidelity Bank Plc. It became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services.

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The company’s shares ended trading at N1.90 during today’s NSE session.

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