Stanbic IBTC Holdings to N2.20/share final dividend as earning appreciates by 61.9%

The Directors of Stanbic IBTC Holdings Plc has proposed a final dividend of N2.20 per ordinary share of 50 kobo each, totalling N28,505 billion, subject to deduction of appropriate withholding tax and approval.

The dividend, according to the notice to the investing community through the Nigerian Exchange Limited (NGX), will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday April 19.

This is in addition to the interim dividend of N1.50 paid in September 2023, thus bringing the total 2023 dividend to N3.70. The register of shareholders will be closed from Monday, April 22, to Friday, April 26.

According to the register of members as of December 31, 2023, no shareholder held more than five percent of the issued share capital of the company except Stanbic Africa Holdings Limited (SAHL), which holds 67.55 percent.

The total unclaimed dividend fund as of December 31, 2023 amounted to N1.065 billion held in an investment account, money market mutual fund, managed by Stanbic IBTC Asset Management Limited.

Meanwhile, in its financial results for the full year period ended December 31, 2023, Stanbic IBTC Holdings Plc has announced that the Group’s gross earnings increased by 61.85 percent to N461.086 billion from N284.877billion in 2022, while profit before tax (PBT) increased by 72.44 percent to N172.907 billion, from N100.268 billion in 2022.

Also, profit after tax (PAT) increased by 74.18 percent for the year ended December 31, 2023, to N140.617 billion from N80.733 billion in 2022.

The company has 10 direct subsidiaries, namely; Stanbic IBTC Bank Limited, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Insurance Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Ventures Limited, Stanbic IBTC Insurance Brokers Limited, Stanbic IBTC Trustees Limited, Zest Payment Limited (formerly Stanbic IBTC Financial Services Limited) and one indirect subsidiary, Stanbic IBTC Nominees Limited.

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