Article Summary
- Shareholders of First Bank Holdings Plc will receive a total dividend of N17.948 billion for the financial year ending December 2022, representing a dividend of 50 kobo per share.
- The dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on 8th August 2023.
- The group’s Gross Earnings were up 6.32% to N805.128 billion from N757.296 billion posted in 2021, driven by strong growth in interest income.
Shareholders of FBN Holdings Plc will receive a total dividend of N17.948 billion for the financial year ending December 2022, representing a total dividend of 50 kobo per share declared by the group.
This was contained in the bank’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by Nairametrics.
The Board of Directors, First Bank Holdings has, under the provisions of Section 426 of the Companies and Allied Matters Act (CAMA) 2020, recommended a dividend of 50 kobos per ordinary share, amounting to N17,947,646,398 (2021: N12,563,352,477). Withholding tax will be deducted at the time of payment.
Subject to shareholders’ approval
According to the company, the dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on 8th August 2023.
According to the statement signed by the company, on August 16, 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of August 8th, 2023, and who have completed the e-dividend registration and mandated the Registrars to pay their dividends directly into their Bank accounts.
Advice to shareholders
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.
What you should know
FBN Holdings Plc’s audited financial statements for the year ended 31st December 2022 showed the group’s Gross Earnings up 6.32% to N805.128 billion from N757.296 billion posted in 2021, driven by strong growth in interest income.
Profit before Tax dropped by 5.26% to N157.902 billion as against N166.662 billion posted in 2021.
According to the bank in a statement, Net Interest Income rose by 59.15% to N363.249 billion from N228.242 billion in 2021.
This is on the back of increasing inflation, for which the economy continues to struggle.
Nigeria’s annual inflation rate rose for the fourth straight month to 22.22% in April 2023 from 22.04% in the previous month, according to the latest inflation report released on Monday.
The report published by the National Bureau of Statistics (NBS) said the food inflation rate quickened to 24.61% in April from 24.46% in the previous month.
- “Looking at the movement, the April 2023 inflation rate showed an increase of 0.18% points when compared to March 2023 headline inflation rate,” it said.
The NBS said similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher compared to the rate recorded in April 2022, which was 16.82%.
FBN Holdings’ Operating Expenses grew by 23.35% to N218.481 billion from N177.130 billion in 2021.
What a bundle of confusion in this report.
The Bank will pay dividend to shareholders,whose names appear on the shareholders list as at August 8 2023, on 2 August 2023.
Why should you postdate list of shareholders while you have agreed to pay them dividends before that date?
Please check your reports and give Shareholders the correct dates.
Thank you.
Pls, when is FBNH holding its AGM?
How long will it take after filling the e devidend form for me to receive my own devidend into my account