Sterling Bank declares N0.03 dividend

Tier 2 lender, Sterling Bank Plc Thursday announced it was proposing a dividend of N0.03 per share for Full Year 2019.

The board resolution came on the heels of the release of the bank’s audited financial statements for the period under review, when its Gross Earnings inched up 1% to N150.195 billion and  Profit After Income Tax grew by 15% to N10.602 billion.

Its notification to the Nigerian Stock Exchange (NSE) puts the qualification date for the dividend payout at 4^th May 2020 just as payment date is scheduled for 20^th May 2020.

The register of Sterling Bank’s members will be closed from 5^th to 8^th May 2020 preparatory to dividend payment.

Read also: Nigeria’s moribund refineries gulped N218.2bn in 2019, posted N149.2bn loss

The bank’s 58^th Annual General Meeting of the bank has been timed to hold on 20^th May 2020.

With outstanding shares of well over 28.790 billion, Sterling Bank’s Earnings Per Share is currently N0.38 while its Price to Earnings ratio is 2.85.

Its dividend yield, Reuters says, is 1.98%.

Sterling Bank trades on the NSE at N1.08 per share.

 

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