Stanbic IBTC Holdings PLC in a press release, signed by the Company Secretary Chidi Okezie and published today, stated the condition under which interested shareholders can get scrip dividend.
“Once again wishes to advise our esteemed shareholders that in line with the authority granted to Directors by Shareholders at the 06 August 2015 Extra Ordinary General Meeting, Shareholders have a choice of receiving dividends declared by the Company, up to year 2020, either in cash or may elect to receive their dividends as new ordinary shares in the Company (“scrip dividend”).
“Where a shareholder elects to receive the whole or a part of his or her dividends by way of new ordinary shares, then such scrip dividend shall only be allotted after receipt of any required regulatory approval and shall apply to shareholders whose names were on the Register of Members as at the qualification date for the payment of such dividends.
“With respect to the two-naira (N2.00) dividend being recommended by Directors for approval at the 8th Annual General Meeting of the Company, scheduled to hold on Wednesday 17 June 2020, the qualification date as previously published was Wednesday 18 March 2020.
“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. With respect to the two-naira (N2.00) dividend indicated above, the reference price for determining the scrip dividend allotment is N24.79 (twenty-four naira seventy-nine kobo).
“Shareholders, who wish to receive their two-naira (N2.00) dividend by way of new ordinary shares, can either download the Scrip Dividend Election form (“the form”) from our website, by clicking on the following link: http://reporting.stanbicibtc.com/resultsreports.php. In addition, you may also obtain a copy of the form by contacting either the Group Company Secretary – Email: email@example.com or Idris Toriola, Head Investor Relations – Email: firstname.lastname@example.org; Tel +234 1 422 8501; or by contacting the Registrars: First Registrars and Investor Services Limited on Tel: +234 1 2701078-9. All completed forms must reach the Registrars on or before close of business on Friday 29 May 2020.
“Shareholders who however elect to receive their dividends in cash, are not required to take any action as they will have their bank accounts (in the case of shareholders with the appropriate e-dividend mandate) credited on the dividend payment date.
“For any enquiry, please contact Chidi Okezie, Group Company Secretary– Email: email@example.com or Idris Toriola, Head Investor Relations – Email: firstname.lastname@example.org; Tel +234 1 422 8501“