Stanbic IBTC Holdings Plc has declared an interim dividend of N1.00 per ordinary share of 50 kobo each, amounting to N10.4 billion.
The dividend, which is subject to deduction of appropriate withholding tax and regulatory approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Wednesday, September 4, 2019.
While the Register of Shareholders will be closed from Thursday, September 5, 2019, to Wednesday, September 11, 2019, the Qualification date has been scheduled for Wednesday, September 4.
What you should know: In line with the Authority granted by Shareholders to the Board of Directors (“the Board”) at the Extra Ordinary General Meeting held on August 6, 2015, Stanbic’s Board has authorised that Shareholders will have the option of electing to receive their Interim Dividends by way of New Ordinary Shares (“Scrip Dividend”).
In view of this, and in order to allow ample opportunity for Shareholders who may wish to exercise the option of receiving Scrip Dividend instead of Cash Dividend, the Dividend Payment date in respect of this Interim Dividend shall be on Thursday, October 3, 2019.
On the Payment Date, shareholders who have not elected to receive their Interim Dividend by way of Scrip Dividend will have their Cash Interim Dividend paid electronically (provided that they have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts).
Note that the Interim Dividend (whether cash or scrip) is only applicable to shareholders whose names appear on the Register of Members as at close of business on Wednesday, September 4.
- Total Assets fell by 2.7% to N1.61 trillion in 2019 from N1.66 trillion in 2018.
- The bank’s gross earnings for the period stood at N117.3 billion, compared to N114.2 billion recorded in 2018, representing a 2.7% increase.
- Profit After Tax stood at N36.2 billion as against N43.1 billion recorded in the same period in June 2018, representing a 15.8% dip.