FCMB Group Plc said it will pay a final dividend of N0.14 for every 50 kobo per ordinary held by its shareholders. The dividend payout follows the release of FCMB Group’s audited financial statement for the full-year ended December 2019.
As Nairametrics reported earlier, FCMB Group’s profit after tax increased by 15.8% to N17.3 billion during the period under review, up from N14.9 billion during the comparable period in 2018.
More on FCMB’s dividend: As always, the dividend payout is subject to appropriate withholding tax, as well as necessary approvals. A public disclosure that was sent to the Nigerian Stock Exchange yesterday, noted that only shareholders whose names appear on the company’s register of members as at April 14th, 2020, will be eligible to receive payment.
The statement went further to disclose that payment to shareholders would be made on Tuesday, April 28th, 2020. However, this is on the proviso that qualified shareholders must have completed the e-dividend registration process, as well as mandated the register to their dividends into their bank accounts.
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Meanwhile, in a related development, FCMB Group announced that its 7th Annual General Meeting would take place in Lagos on the 28th of April, 2020. One of the things that will be discussed during the meeting is the dividend, which must be approved by the shareholders before it can be paid.
Other agendas have also been slated for deliberation during FCMB Group’s 7th AGM. They include the following:
- To receive and approve the group’s audited financial statements for full-year 2019, as well as to consider the report of the directors.
- Shareholders will also be voting to approve the appointment of Directors.
- Ratification of the retirement of a Director is also another agenda of the April 28th AGM.
- Also, shareholders will be voting to re-elect Directors who are retiring by rotation.
- Another important agenda for the AGM is the approval of the appointment of Messrs Deloitte & Touche as FCMB Group’s new auditors.
- More so, shareholders will be voting to authorise the Directors to fix the remuneration of the new Auditors
- Members of the Audit Committee will also be elected.
Please note that FCMB Group’s stock closed Tuesday’s trading session on the Nigerian Stock Exchange at a share price of N1.50.