One of Nigeria’s largest financial institution, Guaranty Trust Bank (GTBank) Plc, has announced a final dividend payment of N2.50 per ordinary share of 50 kobo each for the period ended December 31, 2019.
This information was contained in a notification that was sent to the Nigerian Stock Exchange (NSE) on Monday, March 2, 2020, by the bank’s Company Secretary, Erhi Obebduo immediately after the release of the full year audited financial statement for 2019.
This brings the total dividend payment for the 2019 financial year to N2.80 per ordinary share. It would be recalled that in August 2019, the bank declared an interim dividend of 30 kobo per ordinary share of 50 kobo for the period ended June 30, 2019.
The total amount of dividend proposed for full year 2019 is over N81 billion as against the N79. 46 billion that was paid in the corresponding period of 2018. This represents a 1.94% increase over the 2018 dividend payment.
The final dividend payment is subject to the approval of the shareholders and appropriate withholding tax deduction.
The payment date for the dividend is March 30, 2020, and will be paid electronically to shareholders whose names appear on the Register of Members as at Wednesday, March 18, 2020, who have completed the e-dividend registration.
The Registrar will be mandated to pay their dividends directly into their bank accounts. The shareholders are therefore advised to download, fill and submit the Registrar’s e-dividend mandate form, which is available on the bank’s website, to the registrar.
It should be recalled that in the banking group’s recently released financial result, the bank’s profit before tax for full year 2019 stood at N231.7 billion whereas the profit after tax for the same period was N198.8 billion.