GTCO shareholders approve $750m capital raising plan

0 145

At Guaranty Trust Holding Company (GTCO) Plc’s third Annual General Meeting, shareholders approved the establishment of a capital raising programme totaling $750 million through various means such as public offerings, private placements, rights issues, and other transaction modes.

Additionally, shareholders endorsed the management’s dividend payout of N94.179 billion for the year ended December 31, 2023, comprising a final dividend of N2.70 per share and an interim dividend of 50 kobo per share.

Mr. Hezekiah Sola Oyinlola, Chairman of the company, highlighted the progress made in reorganizing business verticals into a holding company structure over the past three years. He emphasized the company’s aim to broaden and diversify revenue streams while solidifying its position as a leading financial services provider in Africa.

Segun Agbaje, Group CEO of GTCO, commended the company’s strong performance despite challenges in the operating environment and growth headwinds in 2023. He noted a 184.5% growth in Profit Before Tax (PBT) to N609.3 billion compared to N214.2 billion in full-year 2022.

Source: Business Day

Leave A Reply