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GTBank Shareholders Approve N2.45 Per Share Final Dividend For 2018



Shareholders of Guaranty Trust Bank  (GTB) Plc have approved the payment of N2.45 kobo final dividend per share for the year ended December 31, 2018.

Giving the approval at the 29th Annual General Meeting (AGM) of the company, yesterday in Lagos, shareholders commended the efforts of the board and management of the bank for delivering impressive financial result for the year ended 2018 and the first quarter, ended March 31, 2019.

Addressing the shareholders, the chairman of GTBank,  Mrs. Osaretin Demuren, said that the bank recorded significant success in the year despite the challenges in the operating environment and delivered a strong financial performance.

She noted that the bank’s capita remains strong, with a total capital adequacy ratio of 23.4 per cent and the bank has proposed a final dividend of N2.45 per unit of ordinary share held by shareholders, in addition to an interim dividend of 30 kobo per unit of ordinary share, bringing total dividend for 2018 financial year to N2.75 per unit of ordinary share.

A review of the bank’s financial results for the period under review showed that gross earnings for the year grew by 3.7 per cent to N434.7 billion from N419.2 billion reported in December 2017. Profit before tax stood at N215.6 billion, representing a growth of 9.1 per cent over N197.7 billion recorded in the corresponding year ended December 2017.

She noted that at the heart of the Group’s strategy was a commitment to the shared future intended to create for its customers, staff, shareholders and all the stakeholders across Africa.

Speaking on the subsidiaries growth, the chairman of the bank said the bank was consolidating its leading position in Nigeria’s financial services sector, as well as making progress in growing its business across select, high growth African markets

“We believe that our commercial success depends on the prospects of Africa and we, in turn, play a significant role as a catalyst for her growth,” she said.