Fidelity Bank’s Shareholders Approve N4.6billion Dividend At 16Kobo Per Share

Fidelity Bank Plc shareholders have approved the distribution of N4.6 billion as cash dividends for the 2015 business year.

To this end, shareholders of the bank will receive a dividend per share of 16 kobo.

Meanwhile, the lender plans to focus on redesigning its systems and processes to enhance service delivery and deepen cost optimization to ensure competitive returns to shareholders.

Acting Managing Director, Fidelity Bank Plc, Mohammed Balarabe, outlined the bank strategic focus in the 2016 business year at the annual general meeting in Lagos.

Balarabe outlined that the bank would pursue initiatives aimed at reducing operating expenses and cost-to-serve while enhancing it over all risk monitoring capacities to ensure both internal and external risks are identified and mitigated before they crystalize.

He said: “On the back of the evolving dynamics in the industry, we will continue to increase the adoption and migration of customers to our digital platforms and increase our retail banking market share through innovative products and services.”

He said the bank’s 2015 performance reflected the disciplined execution of the management’s medium term strategy and the resilience of evolving business models despite the extremely challenging business environment in 2015.