FSDH Merchant Bank Shareholders Approve N2.6billion Dividend

The shareholders of FSDH Merchant Bank limited at the 4th Annual General Meeting approved the Board of Directors proposal of the sum of N2.60 billion as dividend payment for the year ended 31 December, 2015.

This translates to 93.20 kobo per share which is 66.45 kobo more than the 26.75 kobo per share paid at the end of 2014 financial year.

The FSDH group realized a profit before tax ( PBT) of 4.72 billion for the financial year ended December 31, 2015. Earnings per share (EPS) for the group was 141 kobo which is 37 kobo more than the 104 kobo that was recorded in the previous financial year.

Speaking on the outlook of the bank for 2015, the Chairman of the bank, Osaro Isokpan said: “ We gave identified some opportunity which the bank is poised to take advantage of.”

He added: “We see increased need in the economy for financial advisory services and we are poised to explore this opportunity.”