GTCO Shareholders Endorse N91.24bn Total Dividend Payout

Shareholders of Guaranty Trust Holding Company(GTCO) Plc, have endorsed the payment of a total dividend of N91.236 billion, representing N3.10 per share for the financial year ended December 31, 2022.

This endorsement was made at the holding company’s second annual general meeting held at the weekend, virtually. The Group proposed a final dividend of N2.80 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.

Shareholders commended the board for the financial performance achieved during the period under review despite the operating environment.

Speaking on behalf of shareholders, the immediate past President of Nigeria Shareholders Solidarity Association, Chief Timothy Adesiyan commended the management of GTCO for the impressive 2022 financial performance achieved and the consistent dividend policy of the Group.

He also noted the group has contributed to the growth of the economy in its lending to Agriculture, SMEs, Real Sector, among others as seen in the Award obtained by the Group in the year.

Speaking to shareholders, the chairman of GTCO, Mr Hezekiah Oyinlola said: “in 2022, our ambition was crystal clear, and we set out to achieve it with unwavering focus. We completed the setup of our holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.’’

Our payment subsidiary, HabariPay Limited, also launched in 2022 and almost immediately introduced its flagship product Squad to the market with outstanding reviews.

“The highlight for me is that these newly created businesses – in payments, fund managers, and pensions ran successfully and were profit before tax positive by the end of the year.”

On outlook, Oyinlola stated that, “the momentum we have built-up in recent years means that we are now in a position to leverage every opportunity to grow and sustain our superior financial performance.”

The group chief executive officer, GTCO, Mr Segun Agbaje, said, in spite of the varying challenges and headwinds that weighed on growth in 2022, the Group delivered a decent performance.

Agbaje explained that, “2022 was a year that tested our resilience and our determination. As we face the future, we do so with the confidence that we will maximize all opportunities and deal with challenges as they come. I strongly believe that the new holding structure of our organisation will prove to be a propeller in our journey towards sustained growth and success.”

According to GTCO CEO, “what we have as Guaranty Trust Holding Company is not a conglomerate but a structure of complementary businesses which helps us remain agile, innovative, and adaptable to changing market dynamics, whilst ensuring that we continue to deliver superior returns to our shareholders.”