Shareholders of Five Banks to Share N149billion Dividends for 2015

Shareholders of five banks will receive a total of N149 billion in dividends for the 2015 financial year despite the dismal state of capital market in 2015.

The Nigerian Stock Exchange (NSE) All-Share Index, which measures the aggregate performance of the market plunged by over 17 per cent in 2015 as a result of  the economic headwinds.

Although five banks have sent profit warning to the market, other five banks that have announced their results have recommended dividends valued at N149 billion for their shareholders.

The banks are: Zenith Bank Plc, GTBank Plc, United Bank for Africa Plc, Access Bank Plc and Sterling Bank Plc. The five banks recorded growth in profit, hence the recommendation of dividends for shareholders. Zenith Bank Plc recommended the highest dividend of N56.5 billion, which is N1.80 per share. GTBank followed with N52 billion or N1.77 per share. UBA Plc is giving out N21.7 billion or 60 kobo per share. Shareholders of Access Bank Plc are to receive a total dividend of N16 billion or 55 kobo per share, while Sterling Bank Plc is giving out N2.6 billion.

A shareholder and member of Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude, who spoke on the dividends, said the banks needed to be commended considering the challenging environment in which they operated.

“It is heartwarming and encouraging to note that some of the banks are making profit and rewarding shareholders with dividends.”