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Investors await banks’ dividends as earnings season begins

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Leading first-tier banks are expected to announce dividends and audited report and accounts for the 2018 business year in the next few days, kick-starting the much-awaited earnings season for more than 95 per cent of companies quoted at the stock market.

Regulatory filings and traditional practices at the Nigerian Stock Exchange (NSE) indicated that Nigeria’s two largest banks- Guaranty Trust Bank (GTB) Plc and Zenith Bank International Plc and two other leading banks- United Bank for Africa (UBA) Plc and Access Bank Plc are set to announce their final dividends and full-year earnings for the 2018 business year.

The boards of directors of the four leading commercial banks had met and approved the audited reports and accounts for the year ended December 31, 2018. The board also deliberated and approved final dividend recommendations.

The Nation’s check at the weekend indicated that the four banks have completed the first two steps and are currently awaiting the final approvals of the Central Bank of Nigeria (CBN) to transmit the results and dividend recommendations to the NSE. The boards of Access Bank and UBA met last week while the boards of GTB and Zenith Bank had met earlier in the month.

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