Stanbic IBTC Holdings Plc (NGX: STANBIC) directors have proposed an interim dividend of N1.00 (One Naira) per ordinary share of 50 kobo each, for the period ended 30 June 2021.
This shows a remarkable increase from the N0.40 interim dividend paid by the bank in H1 2020, despite an over 50% decline in profit in H1 2021.
The qualification date for the interim dividend is Monday 20 September 2021, and it is subject to deduction of appropriate withholding tax and regulatory approval.
On Wednesday 29 September 2021, if approved, the dividend which amounts to N12,956,997,163 will be paid electronically to shareholders 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 do so.
At the close of trading on Tuesday, the share price of Stanbic IBTC Holdings closed flat at N39.2 per share. Year-to-date it is losing 11.01%. The 52-week high and low prices are N52.9 and N38.5 per share respectively.
The Bank has 12.96 billion outstanding shares and a market capitalization of N507.91 billion as the Tuesday. It is the 8th most capitalized listed company on the Nigerian Exchange. Stanbic is the 3rd most capitalized bank on the Exchange behind Guaranty Trust Holding Company Plc and Zenith Bank Plc.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.