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Wema Bank proposes N0.04 per share dividend for FY2019

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Wema Bank proposes N0.04 per share dividend for FY2019

The Wema Bank board has announced its proposal of N0.04 dividend per share translating to a total dividend of about N1.543 billion for Full Year 2019.

In its notice to the Nigerian Stock Exchange (NSE) Thursday signed by Johnson Lebile, Company Secretary, the lender said shareholders whose names appeared in the register of members at the close of business on 6th May 2020 would be eligible for the dividend payout.

The corporate action followed the release of the bank’s impressive FY2019 financial results in the first week of February, in which it reported a 32% growth in after-tax profit from N3.326 billion to N4.406 billion.

Read also: Nigeria’s crude oil revenue rose in January amidst 50% surge in pipeline vandalism –NNPC report

The register of shareholders will be closed from 7th to 12th May 2020, preparatory to dividend payment on 18th May 2020.

Qualification date has been fixed for 6th May.

Wema Bank closed trade on the floor of the NSE yesterday at N0.60 per share.

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