Fidelity Bank Plc (NGX: FIDELITYBK) will pay a final dividend of ₦0.60 per share for the 2023 financial year ended 31 December, 2023. The bank had paid an interim dividend of ₦0.25 on September 22, 2023.
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The proposed final dividend of ₦0.60 per share and interim dividend of ₦0.25 brings the total dividend for 2023 to ₦0.85 per Ordinary Share to be paid from the retained earnings account as at 31 December 2023.
The proposed dividend will be presented for shareholders’ approval at the Bank’s 36th Annual General Meeting. If approved, the proposed dividend will be paid net of withholding tax at the applicable tax rate.
Qualification date for the dividend is set for April 26th, 2024. On May 16, 2024, the dividends will be paid electronically to shareholders whose names appear on the Register of Members who qualify for the dividend and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
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 the website of the Registrars: www.firstregistrarsnigeria.com, complete and submit to the Registrar or their respective Banks.
Fidelity Bank Plc reported a profit after tax of ₦99.45 billion (2022: ₦46.72 billion) for the year, and an Earning per Share of ₦3.11 (2022: ₦1.61).
About the Company
The Bank was incorporated on 19 November 1987 as a private limited liability company in Nigeria. It obtained a merchant banking
license on 31 December 1987 and commenced banking operations on 3 June 1988.
The Bank converted to a commercial bank on 16 July 1999 and re-registered as a public limited company on 10 August 1999. The Bank’s shares were listed on the floor of the Nigerian Stock Exchange (now Nigerian Exchange Group) on 17 May 2005.
The principal activity of the Bank continues to be the provision of banking and other financial services to corporate and individual
customers from its Headquarters in Lagos and 250 business offices. These services include retail banking, granting of loans and advances, equipment leasing, collection of deposits and money market activities.
The Bank has one wholly owned subsidiary, Fidelity Bank UK Limited (former Union Bank UK Plc) which was acquired in 2023.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
