NPF Microfinance Bank Plc (NGX: NPFMRCBK) has declared a final dividend of 12 kobo for 50 kobo ordinary share for full year ended 31 December, 2023.
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The bank announced the dividend in a regulatory filing on the Nigerian Exchange Limited on Wednesday. The dividend is subject to approval at the Annual General Meeting, and a withholding tax at a rate of 10% in the hand of recipients.
Qualification date for the dividend is 7th October, 2024.
On 1st November, 2024, dividend will be paid electronically to Ordinary Shareholders whose names appear on the Register of Members as 7th October, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
The Company’s Annual General Meeting will be held at City Green Hotel, Yola, Adamawa State, on Thursday 31st October 2024 at 11.00am.
NPF Microfinance Bank Plc reported an profit after tax of ₦1.01 billion (2022: ₦883.81 million) for the 2023 financial year, and an earnings per share of 17 kobo (2022: 15 kobo).
The Bank was incorporated in Nigeria as a Private Limited Liability Company on 19 May 1993 under the provisions of the Companies and Allied Matters Act (CAMA) with RC No. 220824.
It obtained a provisional license as a Community Bank from the Central Bank of Nigeria on 12 July 1993 with License No. FC 00200 and commenced operations on 20 August 1993. It obtained a final license from the Central Bank of Nigeria on 24 January 2002. It was registered as a Public Limited Company on 13 July 2006.
The Bank was given an approvalin-principle to operate as a Microfinance Bank on 10 May 2007 and obtained the final license on 4 December 2007.
The shares of the Bank were listed on the Nigerian Stock Exchange on 1 December 2010.
The principal activity of the Bank is the provision of banking and other permissible financial services to poor and low income households and micro enterprises with emphasis on members of the Nigerian Police Community.
Such services include retail banking, loans and advances and other allied services. The Bank currently has 49 branches nationwide from which it operates.
The bank has 5.99 billion outstanding shares, with the Nigeria Police Co-operative Society Limited (62.76%) and NPF Welfare Insurance Scheme (15.62%) being the only shareholders of the bank that held more than 5% of the issued ordinary share capital of the company.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur