SHAREHOLDERS of Wema Bank Plc will receive a total dividend of N3.86 billion for the financial year ending December 2022, representing a total dividend of 30 kobos per share declared by the bank.
The Board of Directors of Wema Bank Plc has pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria proposed a final dividend of 30 kobos per share for the financial year 2022.
This was contained in the bank’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtain.
In a corporate announcement submitted to the Nigerian Exchange Limited (NGX) the company said the dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday, May 9, 2023.
According to the statement signed by the company, on May 24, 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of May 9, 2023, and who have completed the e-dividend registration and mandated the Registrars to pay their dividends directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration are therefore advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.
Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.
It will be recalled, that the Bank’s Gross Earnings grew by 42 per cent from N92.14 billion in 2021 to N131.08 billion in 2022. Profit before Tax (PBT) increased by 19 per cent to N14.75 billion from N12.38 billion in FY 2021, and Profit After Tax (PAT) increased by 26 per cent to N11.2 billion from N8.93 billion reported in FY 2021.
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