Stock Exchange lists additional 31.5m shares of Stanbic IBTC worth N1.2bn

The Nigerian Stock Exchange (NSE) has listed Stanbic IBTC Holdings Plc’s additional 31,515,400 ordinary shares of 50 kobo. The additional shares valued at N1.16billion considering the N37 which the stock closed on Wednesday December 18.

With this listing of 31,515,400 ordinary shares, the total issued and fully paid up shares of the Company has now increased from 10,473,451,958 to 10,504,967,358 ordinary shares.

Dealing members were notified on Thursday December 19, 2019 that the shares listed on the Daily Official List of the Nigerian Stock Exchange arose as a result of the Scrip Dividend offered to eligible shareholders of Stanbic IBTC Holdings.

The shareholders had elected to receive ordinary shares in lieu of cash dividends with respect to the N1 final dividend declared for the half year (H1) ended June 30, 2019.

The N37 per share which Stanbic IBTC Holdings closed after Wednesday’s trading on the floor of the Bourse represents year-to-date (ytd) decline of 22.8percent. The stock had reached a 52-week high of N53.25 and a corresponding week low of N33.

Stanbic IBTC Holdings Plc posted a profit of N36 billion for the half-year which ended June 30, 2019 and rewarded shareholders with an interim dividend of N10.2 billion at 100 kobo per share.

“We remain committed to operating to the highest level of corporate governance standards while delivering sustainable long-term value to clients and other stakeholders through worldclass innovative operations and our customer-centric approach,” Yinka Sanni, Chief Executive Officer, Stanbic IBTC Holdings Plc had assured. According to him, the Group’s achievements are an indication that its strategy is delivering on set goals and objectives.

 

Iheanyi Nwachukwu