BY ZAKA KHALIQ, Lagos
Shareholders of FCMB Group Plc will now be paid a dividend of N2.97 bn, translating to 15 kobo per ordinary share for the year ended December 31, 2020.
This was an improvement compared to 14 kobo per share declared the previous year.
The shareholders commended the management and board of the bank at the 8th annual general meeting (AGM) of the group held virtually, expressing confidence in the financial institution to sustain its impressive performance and deliver more value.
Speaking at the AGM, the coordinator of Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, praised the institution for efficiently running its affairs and the appreciable growth recorded in key operating areas.
He said, “FCMB is a great institution and we are glad that its value is growing. The fact that it has been able to meet all its financial obligations to its creditors is a very good sign of strength. It also shows the seriousness of the management to remain worthy of doing business with. From the results, it is clear that the management has done its best to grow all the subsidiaries, thereby, contributing significantly to profit and the overall performance of the group.”
Also commenting, the national coordinator of Pragmatic Shareholders Association of Nigeria(PSAN), Mrs. Bisi Bakare, stated that shareholders were impressed by the digital transformation drive of FCMB which has impacted positively on customer service and financial inclusion.
The national chairman, Progressive Shareholders Association of Nigeria(PSAN), Mr. Boniface Okezie said the institution was growing rapidly with branches all over the country, even as it was also performing well in terms of innovation, technology and customer service.
Presenting the 2020 report to shareholders, the chairman, Mr. Oladipupo Jadesimi, assured that FCMB Group is well positioned to continue to succeed in the years to come, even in the face of the COVID-19 pandemic.
On his part, the group chief executive of FCMB Group Plc, Mr. Ladi Balogun, reported that inspite of the challenging macroeconomic environment, the Group grew profit after tax by 13.4% to N19.7billion. He added that, this increase had a direct correlation with earnings per share, which grew from 87 kobo in 2019 to 98 kobo in 2020, while return on average equity also rose to 9.2% from 9%.