Stanbic IBTC Holdings Plc has proposed a final dividend of N2 per ordinary share of 50 kobo each, that is, N25.913 billion, subject to deduction of appropriate withholding tax and approval.

The final dividend will be paid to shareholders whose names appear in the register of members as at the close of business on Wednesday April 13, 2022. The register of shareholders will be closed from Thursday April 14, 2022 to Thursday April 21, 2022.

On Friday May 27, 2022, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at close of business on Wednesday April 13, 2022 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

In the full year ended December 31, 2021, the Group’s gross earnings decreased by 12.22 percent to N205.792 billion from N234.446 billion in 2020, while profit before tax (PBT) decreased by 30.32 percent to N66.003 billion in 2021 from N94.717 billion in 2020. Also, its profit after tax (PAT) decreased by 31.54 percent by for the year ended December 31, 2021 to N56.966 billion from N83.211 billion in 2020.

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The directors report on the group’s dividend history and unclaimed dividend as at December 31, 2021 shows the total unclaimed dividend fund as at December 31, 2021 amounted to N3.536 billion (December 2020: N3.183 billion).

The report shows that N1.118 billion of the fund balance is held in an investment account (money market mutual fund) managed by Stanbic IBTC Asset Management Limited (December 2020: N1.394 billion), while the balance is held in demand deposits maintained with Stanbic IBTC Bank Plc. Total income earned on the investment account and recognised by the company for the year ended December 31, 2021 was N75.45 million (December 2020: N54.5 million).

The N34.15 the company’s share price stood as at Thursday March 31 represents year-to-date (YtD) increase by 0.44 percent.

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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