Stanbic IBTC Holdings has announced an interim dividend of N2.00 per ordinary share of 50 kobo each, worth N25.9 billion, according to a corporate action statement released by the NGX.
This follows the bank’s recent second-quarter financial results, where it reported a remarkable 80.4% year-over-year growth in pre-tax profit, accompanied by a 37.1% surge in total assets.
The total interim dividend, amounting to N25.9 billion, was disclosed in the corporate action release on September 4, 2024, signaling strong performance in the second quarter of the year.
What to Know
The interim dividend pertains to the period ending June 30, 2024, and will be distributed to shareholders listed in the company’s records as of September 18, 2024.
- It remains subject to withholding tax and necessary regulatory approvals.
- The shareholders’ register will be closed from September 19 through September 25, 2024.
- Stanbic IBTC also stated that dividends would be paid electronically on Monday, September 30, 2024, to registered shareholders who have completed their e-dividend registration.
The company’s registrar, First Registrars & Investor Services Limited, will facilitate the electronic payment process.
According to the Bank:
In the corporate actions disclosure, the bank encouraged shareholders who have not completed their e-dividend registration to do so by visiting the registrar’s website.
“On Monday, 30 September 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of the close of trading on Wednesday, 18 September 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.”
“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 our Registrars website.”
Members with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment were advised to complete the e-dividend registration or contact the Registrar.
Stock Performance:
Stanbic IBTC’s stock has shown a moderately strong buy trend, bouncing back from a dip of N49.50 in April. The stock has closed three consecutive months in positive territory, with a recent rise to N58.40 in early September.
The interim dividend announcement is expected to further boost positive sentiment, potentially driving the share price higher in the coming weeks.
Operational performance has been good in 2024, with the dividend and overall financial growth indicating strong fundamentals for the bank.
