Business News
Fidelity Bank Plc proposes dividend of 20 kobo to its shareholders
Fidelity Bank Plc has proposed a dividend payment of 20 kobo per 50 kobo share, subject to shareholders’ approval and appropriate withholding tax.
Fidelity Bank Plc has proposed a dividend payment of 20 kobo per 50 kobo share, subject to shareholders’ approval and appropriate withholding tax.
This was disclosed in a notification sent by the bank to the Nigerian Stock Exchange. The notice stated that the register of shareholders would be closed from April 20 to 24, 2020.
Date of payment: The dividend, which is subject to withholding tax, will be paid to shareholders whose names appear on the register of members at the close of business on the 17th of April 2020.
Earlier in the year, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019.
[READ MORE: Seplat Petroleum to pay final dividend of $0.05 per share)
Gross Earnings: The Company’s gross earnings for the period stood at N217.3 billion, indicating a 15% increase compared to N188.8 billion that was reported during the comparable period in 2018.
Net Interest Income: There was a 12% increase in net interest income which stood at N82.1 billion. During the comparable period in 2018, the company’s net interest income was N73.3 billion.
Profit before income tax for the period is N32.3 billion, compared to N25 billion that was recorded in 2018. This represents a 29% increase.
In the same vein, profit for the period increased by 28.5% to N29.5 billion, compared to N22.9 billion profit earned by the company in 2018.
[READ ALSO: Zenith Bank fetes shareholders with dividend payout of N87.9 billion)
About Fidelity Bank Plc: Fidelity Bank Plc. began operation in 1988 as Fidelity Union Merchant Bank Limited. In 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.
Spotlight Stories
Tip Jar, Twitter’s new giveaway feature that lets users send money to you
Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.
Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.
According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”
The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.
Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.
READ: Facebook is creating an audio chat product similar to Clubhouse
You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.
Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.
The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.
READ: Does YouTube stand a chance against TikTok?
Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”
Twitter has tested several features and more will be rolled out soon.
Business
Customs Apapa Command generates revenue of N65.4 billion in April
This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.
