Stanbic IBTC Holding Plc will be paying its shareholders a dividend of N2 for every share of 50 kobo.
This is an increase compared to the interim dividend of ₦1.50 per share that was declared in the first half of 2023.
The group announced in a corporate disclosure on Nigeria Exchange Group that the directors of the company proposed a final dividend of N2.00 per ordinary share of 50 kobo each, that is N25,913 billion, subject to deduction of appropriate withholding tax and approval.
This dividend, according to Stanbic IBTC, will be paid to shareholders whose names appear in the register of members as of the close of business 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.
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“The Register of Shareholders will be closed from Thursday 19 September 2024 to Thursday 25 September 2024,’ the statement said.
The holding company said that dividends will be paid electronically to shareholders whose names appear on the Register of Members as at when due, on Monday 30 September 2024,
Shareholders are also expected to have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
The statement added, “Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrars.”
The bank reported a 73 percent rise in its after-tax profit in the first half of 2024.
According to the bank’s financial statement, its after-tax profit increased to N116.3 billion in H1 from N67.9 billion in the corresponding period of last year.
The bank reported a 77.9 percent increase in its gross earnings to N379 billion in H1 2024 from N213 billion in the same period of 2023, driven by an acceleration in both interest income and non-interest income.
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Stanbic IBTC Holdings Plc is a member of the Standard Bank Group, which holds a 67.55 percent equity holding (through Stanbic Africa Holdings Limited) in the company.
The company has ten direct subsidiaries, namely: Stanbic IBTC Bank Limited, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Insurance Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Ventures Limited, Stanbic IBTC Insurance Brokers Limited, Stanbic IBTC Trustees Limited, Zest Payment Limited (formerly Stanbic IBTC Financial Services Limited) and one indirect subsidiary, namely: Stanbic IBTC Nominees Limited.
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