Stanbic IBTC Holdings Plc has listed additional shares of 64.209 million ordinary shares on the daily official list of the Nigerian Stock Exchange (NSE). The company made this known in a release on the NSE, yesterday.
According to the release, the additional shares of 64.209 million ordinary shares of 50 kobo each resulted from the scrip dividend scheme offered to eligible shareholders of Stanbic IBTC Holdings who elected to receive new ordinary shares in lieu of cash dividends with respect to the 50 kobo final dividend declared for the year ended December 31, 2017.
With this listing of 64.209 million ordinary shares, the total issued and fully paid up shares of the company has now increased from 10.049 billion to 10.114 billion. Stanbic IBTC Holdings Plc recorded significant growths in incomes and profit in the first quarter of this year, setting out for another strong performance after growing net profit by 70 per cent in 2017.
In the company’s first quarter result for the period ended March 31, 2018, showed that gross earnings rose by 22 per cent while profits before and after tax grew by 43 per cent and 44 per cent respectively.
Profit after tax increased to N23.1 billion in first quarter 2018 as against N16.1 billion posted in the corresponding period of 2017. Profit before tax had grown from N18.6 billion in first quarter 2017 to N26.7 billion in first quarter 2018. Gross earnings rose from N47.0 billion in first quarter 2017 to N57.4 billion in first quarter 2018. Total assets increased to N1.41 trillion by March 2018 from N1.39 trillion recorded at the end of December 2017.
Chief executive, Stanbic IBTC Holdings Plc, Mr. Yinka Sanni, said the first quarter 2018 performance was an affirmation of the group’s growth aspirations as Nigeria’s economic environment continues to improve. “Stanbic IBTC delivered strong results in the first quarter of 2018 in demonstration of its growth aspirations as the country’s economic environment continues to improve,” Sanni said.