Stanbic IBTC Announces N4.3 billion Interim Dividend, as H1 Profit Surges by 24.7%

Stanbic IBTC Holdings Plc, the parent company of Stanbic IBTC Bank, announced yesterday that all eligible shareholders of the company will soon get paid interim dividends of 40 kobo per every 50 kobo share held by them. This would amount to a total sum of about N4.3 billion.

In a public disclosure that was sent to the Nigerian Stock Exchange, Stanbic IBTC noted that the dividends will be subject to appropriate withholding tax.

Also, only shareholders whose names appear in the company’s Register of Members as at 15th of September would be eligible to receive payments. Therefore, the qualification date for the interim dividends is September 15th, 2020.

In the meantime, the company’s Register of Members will be closed starting from September 16th to September 23rd.

The public disclosure, which was signed by the Company Secretary (Chidi Okezie) as seen by Business Elites Africa, further disclosed that the dividends would be paid electronically on September 30th, 2020.

“On Wednesday 30 September 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at close of Trading on Tuesday 15 September 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” the statement said.

Stanbic IBTC Holdings Plc is one of Nigeria’s leading financial service firms. The company has subsidiaries covering such areas as banking, investment advisory, pension, stock brokerage, etc. It is listed on the Nigerian Stock Exchange where it trades on the NSE-30 index.

The company’s latest earnings report for H1 2020 showed that profit after tax increased by 24.7% to N45.2 billion, up from N36.2 billion reported during the comparable period back in 2019.

Checks by Business Elites Africa showed that the company has a market capitalisation of N393.9 billion. Its stock is currently trading at N37.50 on the Nigerian Stock Exchange.