Stanbic IBTC Holdings Plc has announced its results for the full year period ended December 31, 2023.
The Group’s gross earnings increased by 61.85percent to N461.086billion from N284.877billion in 2022. Profit before tax (PBT) increased by 72.44percent to N172.907billion, from N100.268billion in 2022. Also, profit after tax (PAT) increased by 74.18percent for the year ended December 31, 2023 to N140.617billion from N80.733billion in 2022.
The directors of the company proposed a final dividend of N2.20 per ordinary share of 50 kobo each, that is, N28,505billion, subject to deduction of appropriate withholding tax and approval.
This dividend, according to Stanbic IBTC Holdings Plc will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday April 19, 2024. Stanbic IBTC Holdings Plc is a member of the Standard Bank Group, which holds a 67.55percent equity holding (through Stanbic Africa Holdings Limited) in the company.
This is in addition to the Interim Dividend of N1.50 paid in September 2023, thus bringing the total 2023 dividend to N3.70. The register of shareholders will be closed from Monday April 22, to Friday April 26, 2024.
According to the register of members as at December 31, 2023, no shareholder held more than 5percent of the issued share capital of the company except Stanbic Africa Holdings Limited (SAHL) which holds 67.55eprcent.
The total unclaimed dividend fund as at December 31, 2023 amounted to N1.065billion (December 2022: N4.115billion) held in an investment account (money market mutual fund) managed by Stanbic IBTC Asset Management Limited.
Qualification date is Friday April 19, 2024. On Friday May 17, 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at close of business on Friday April 19, 2024 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
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.
Stanbic IBTC Holdings Plc with a free float percentage of 30.92percent (N278.952billion) as at December 31, 2023, is compliant with the Exchange’s free float requirements for companies listed on the Main Board.
