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Home Business News

Fidelity Bank Plc proposes dividend of 20 kobo to its shareholders

Olumide Adesina by Olumide Adesina
March 23, 2020
in Business News, Company News
Fidelity Bank customers went on Twitter rampage to demand better service, Fidelity Bank: Write-back Supports Earnings Growth, Fidelity Bank: Earnings beat estimates; Pre-tax Profit soars 29% y/y, NIGERIA| FIDELITY BANK: Regulatory-induced fee cut, surge in OPEX halt profit growth

Nnamdi Okonkwo, CEO, Fidelity Bank

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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.

CBN / Fidelity Bank

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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.


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Tags: Fidelity Bank PlcNigerian Stock Exchange
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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Comments 1

  1. Ahmad Balarabe says:
    June 3, 2021 at 3:40 pm

    I appreciate your hard working ,
    best Wishes to fidelity Bank

    Reply

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