Access Bank Plc, has announced a final dividend of 70kobo per 50 kobo ordinary share for the financial year ended 31 December 2021.
The proposed dividend is subject to appropriate withholding tax, with a qualification date of April 19, 2022.
On Monday, April 28, 2022, the dividend which amounts to N24.88 billion will be paid electronically to qualified shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
This brings the total dividend paid by Access Bank Plc for 2021 to N1:00 per share amounting to N35.54 billion. The bank paid an interim dividend of 30 kobo per share which was valued at N10.66 billion for the first half of 2021 ended 30 June 2021.
Read also: List of Dividends announced in 2022, qualification and payment dates
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit it to the Registrar or their respective Banks.
The bank’s registrar is Coronation Registrars Ltd. The e-dividend mandate form can be downloaded or filled online on the registrar’s website or the Securities and Exchange Commission (SEC) website.
Access Bank Plc has 35,545,225,622 outstanding shares. The bank’s share price lost 5.77% to close at N9.80 per share on Friday following the announcement of the final dividend.
Although the 70 kobo announced by the bank for 2021 is higher than the 55 kobo it paid for 2020, the final dividend is still below shareholders’ expectations.
In 2021, Access Bank Plc’s gross earnings rose to N971.89 billion from N764.72 billion in 2020, while the profit for the year increased to N160.22 in 2021 from N106.01 in 2020.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
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