The Board of Directors of Sterling Bank Plc has proposed a dividend of 5 kobo for every share of 50 kobo held by shareholders, amounting to a total of N1.44 billion for the year ended 2020.
This is according to a disclosure signed by the Bank’s secretary, Temitayo Adegoke, and sent to the Nigerian Stock Exchange.
According to the notice, dividends will be paid electronically to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 16th of April, 2021. Other qualifying conditions are;
Shareholders must have completed the e-dividend registration.
In addition, shareholders must have mandated the Registrar (Pace Registrar Limited) to pay their dividend directly into their bank accounts.
What you should know:
The Bank is expected to discuss this proposed dividend in its 59th Annual General Meeting scheduled to hold on 6th of May, 2021 at MUSON Centre, Marina- Lagos.
The Bank had earlier reported a profit after tax of N11.2 billion in FY 2020, indicating an increase of 6.04%.
The Bank closed trading on 1st of April, 2021 with a share price of N1.85
For more information about the proposed dividend, click HERE.