Stanbic IBTC Holdings Plc, a Nigerian tier 2 lender and on of the 5 financial institutions in the country with the holding structure has released its audited financial statement together with announcement of final divendend for 2019 financial year.
The announcement was published by the Nigerian Stock Exchange (NSE) today and signed by the Company Secretary Chidi Okezie.
“A Final Dividend of N2.00 (Two Naira) per ordinary share of 50 kobo each, that is, N21,009,934,716.00, subject to deduction of appropriate withholding tax and approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Wednesday 18 March 2020″
The bank further noted that registration of shareholders will be closed from 19th of March 2020 to 26th of March 2020 and that only shareholders whose name appears on the bank’s Register as at 18th of March will be eligible for the Stanbic IBTC 2019 dividend that will be paid electronically.
The bank however advised all shareholders that are yet to complete their dividend mandate for electronic payment to do so:
“Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on our Registrars website: https://firstregistrarsnigeria.com/downloadforms/, complete and submit to the Registrar or their respective Banks”.
On the issue of Scrip dividend, the statement further stated that:
“In line with the Authority granted by Shareholders to the Board of Directors (“the Board”) at the Extra Ordinary General Meeting held on 06 August 2015, the Board has authorised that Shareholders will have the option of electing to receive their Final Dividends by way of New Ordinary Shares (“Scrip Dividend”).
“The reference price to be used in determining any scrip dividend allotment shall be the volume weighted average price (VWAP) of the Company’s shares on The Nigerian Stock Exchange (The NSE) for the five business days commencing on the day the ordinary shares are first quoted ex-dividend. 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. All Shareholders are hereby requested to contact their Stockbrokers and the Registrars for further details”
The bank has therefore fixed the date of the annual General Meeting for 17 June 2020 at Eko Hotel & Suites, Adetokunbo Ademola Street, Victoria Island Lagos at 10.00 a.m.
Stanbic IBTC 2019 dividend