A corporate actions announcement by Ecobank Transnational Incorporated (NGX: ETI) has confirmed a proposal by the bank to pay a final dividend of 0.11 US cents per ordinary share for the financial year ended 31 December, 2022.
This is lower than the 0.16 US cents final dividend paid by ETI for the year December 2021.
ETI saw its profit for the year increase by 3% to $367 million in 2022 from $357 million recorded in 2021
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The proposed dividend of 0.11 US cents ($0.0011) will amount to approximately 51 kobo per ordinary share at the I&E exchange rate of N460.5 per dollar.
The dividend is subject to appropriate withholding tax and approval of shareholders at its Annual General Meeting in Lome, Togo on 17th May, 2023 at 10am GMT.
With the share price currently at N11.25, the 51 kobo dividend amount to a Dividend Yield of 4.53% before withholding tax.
Dividend will only be be paid to shareholders whose names appear in the Register of Members at the close of business on 25 May 2023.
The dividend is payable electronically on 6 June 2023 to shareholders who have completed the e dividend registration and mandated the Registrar to pay their dividends into their bank accounts.
Shareholders who are yet to complete the e-dividend registration form are advised to do so using the E-Dividend Mandate Activation Form link. The form is also available on the website of the Registrars, www.gtlregistrars.com.
The bank also advised shareholders with unclaimed, yet to be presented for payment or returned for validation, dividend warrants and share certificates to complete the e-dividend registration form or contact the Registrar; Greenwich Registrars & Data Solutions Limited.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.