FCMB Group Plc (NGX: FCMB) has announced a proposal to pay its shareholders a dividend of 20 kobo per ordinary share for the 2021 financial year ended 31 December 2021. The dividend proposal is contained in a corporate actions announcement published by the banking group.
The dividend proposal is subject to appropriate withholding tax and approval of shareholders at the next Annual General Meeting. The qualification date for the dividend is 14th April, 2022 and payment will be made on 27th April, 2022.
On Wednesday, 27 April 2022, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at the close of business on Thursday, 14 April 2022, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
At the current share price of N3.30 for FCMB shares, the dividend yield will stand at 6.06% before withholding tax. With the deduction of 10% withholding tax, the net cash dividend per ordinary share receivable by shareholders will be 18 kobo. That will put the real dividend yield at 5.45%.
The dividend yield is a financial ratio that tells you the percentage of a company’s share price that it pays out in dividends each year.
Shareholders who are yet to complete the e-dividend registration are advised to download the form from the Registrars’ website (www.cardinalstone.com) complete and submit to the Registrars or their respective Banks.
Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
The Company’s Annual General Meeting will be held on Wednesday, 27 April 2022 at the registered office, First City Plaza, 44 Marina, Lagos at 11.00 a.m with attendance by Proxies.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur