Stanbic IBTC proposes N21bn final dividend

Stanbic IBTC Holdings Plc, has announced it is proposing a final dividend of N2 per share totalling N21.010 billion for Full Year 2019.

This brings the total dividend declared by bank for FY2019 to N3 per share given that it had last August announced an interim dividend of N1 per share, which it said was substitutable for new ordinary shares.

The N3 per share total dividend is the highest to be declared by any bank so far for FY2019.

Stanbic’s dividend declaration follows its fairly impressive FY2019 financial results, which saw earnings grow by 0.80% to N75.035 billion.

According to Stanbic’s notice to the Nigerian Stock Exchange (NSE) today, the company’s register will be closed from 19^th to 26^th March 2020 preparatory to dividend payment on 18^th June 2020.

The qualification date is 18^th March 2020.

Potential investors willing to leverage the dividend payment may consider buying the company’s stocks on or before the Close of Business on this date.

Shareholders have the option of receiving their final dividends by way of new ordinary shares (scrip dividend).

The company says “accordingly, the Scrip Dividend Allotment Price will be communicated to ALL Shareholders through The NSE on Thursday 26 March 2020. Shareholders will thereafter be given until Friday 29 May 2020 to make their election should they wish to receive Scrip rather than Cash Dividend.”

Stanbic closed trade on the floor of the NSE today at N35.7 per share.

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