Six banks shareholders get N366bn dividends –Report

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In 2023, investors in six Nigerian financial institutions reaped significant rewards, with final dividends totaling approximately N366.93 billion, as reported by The PUNCH. This amount marks a substantial increase of 30.94 percent compared to the dividends paid out in the previous year, which stood at N280.22 billion.

The audited financial results of Access Holdings, Wema Bank Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc, United Bank for Africa, and Stanbic IBTC Holdings were scrutinized to reveal these findings. Notably, Zenith Bank led the pack with the highest final dividend announced for 2023, amounting to N3.50 per share, contributing to a total payout of N109.89 billion, up from N91.05 billion in the preceding year.

Other institutions, such as United Bank for Africa (UBA) and Stanbic IBTC Holdings, also declared substantial final dividends, with UBA’s payout reaching N78.66 billion at N2.30 per share and Stanbic IBTC proposing a dividend of N28.51 billion, an increase from N25.91 billion in 2022. Even Wema Bank demonstrated improvement, with shareholders set to receive a final dividend of N6.43 billion at N0.50 per share, surpassing the N3.86 billion paid out in 2022.

Source: Punch

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