Access Bank Plc has declared an interim dividend of 25 kobo per every share of 50 kobo, for the financial period ended Sunday, June 30, 2019. The declared dividend is each on the 35,545,225,622 issued ordinary shares, amounting to N9 billion.
The dividend will on Thursday, October 3, 2019, be paid electronically to shareholders whose names appear on the Register of Members as at Monday, September 23, 2019, and to those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
While the Register of Shareholders will be closed on Tuesday, September 24, 2019, Qualification Date has been scheduled for Monday, September 23, 2019.
Access Bank’s financial results: The bank’s gross earnings for the half-year 2019 period stood at N324.3 billion, compared to N253 billion recorded in 2018, representing a 28.1% increase.
Profit Before Tax: This increased by 61.6% to N74.1 billion during the period under review, compared to N45.8 billion recorded in June 2018.
Profit After Tax: Similarly, the bank’s profit after tax stood at N63 billion as against N39.6 billion recorded in the same period in June 2018, representing a 59% increase.
Earnings Per Share (EPS) grew to N1.94K, up from N1.38K in the comparable period in 2018.
Understanding dividend: A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.
What you should know: An interim dividend is a type of dividend that is declared and distributed by a company to its shareholders prior to the determination of final profit position for the financial year. Before interim dividends are paid, the company’s financial statements will also be audited.