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Shareholders Approve IBTC Holdings Dividend Of N15bn

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Shareholders of Stanbic IBTC Holdings Plc, have commended the financial institution for its outstanding financial performance for the 2018 financial year.

The company was also commended for its total dividend payment of N15.36 billion, representing N1.50 per share, which was unanimously endorsed by the shareholders.

The commendation was made on at the company’s seventh annual general meeting held in Lagos. According to the shareholders, the result is even more impressive considering the difficult operating environment in 2018.

The shareholders, under the aegis of different shareholder groups, expressed their satisfaction with the board and management of the company for their adroit management of resources to ensure a positive performance. They assured of their support, going forward, to ensure the company consolidates on the performance in the 2019 financial year.

Speaking to shareholders, chief executive, Stanbic IBTC Holdings, Mr. Yinka Sanni, assured that the financial institution will not relent in its efforts to continue to deliver value to shareholders and other stakeholders.

“We will continue to leverage on our universal financial services capability, unrelenting focus on cost control, digitization and client centricity while operating as an ethical organisation to ensure that we continue to grow our capacity to provide incomparable high quality end-to-end financial solutions to our customers in a sustainable manner and remain profitable as a group,” Sanni said.

Stanbic IBTC released its audited financial results for 2018 to the Nigerian Stock Exchange in March 2019. The results showed the group grew its topline earnings for the financial year to N222.4 billion, compared with the N212.4 billion it achieved in the same period of 2017. Bottomline grew by 54 per cent as profit after tax moved up to N74.4 billion compared with the N48.4 billion achieved in December 2017.

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