Guaranty Trust Bank Shareholders Approve N52billion Dividend

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Guaranty Trust Bank Shareholders Approve N52billion Dividend
Guaranty Trust Bank Shareholders Approve N52billion Dividend

Guaranty Trust Bank has won the Euromoney award for best bank in NigeriaGuaranty Trust Bank has won the Euromoney award for best bank in Nigeria

Guaranty Trust Bank Plc shareholders have approved a total dividend payout of N52.09 billion for the 2015 financial year.

The shareholders gave the approval on Tuesday, April 5, in Lagos, at the bank’s Annual General Meeting (AGM). They also hailed the management of the bank for its policy of constantly paying them dividend.

Notable shareholders’ activists and leaders who spoke at the meeting praised the bank for also keeping the policy of paying interim dividend and also improving on the dividend of 177 kobo paid in the last financial year.

During the 2015 financial year, GTB’s board of directors declared and paid an interim dividend of 25 kobo per share and a final dividend of N1.52, bringing the total dividend per share to N1.77 per share, which amount to total dividend payout of N52.09.

The chairman of GTB, Mrs. Osaretin Demuren said that the bank recorded significant financial success despite a difficult operating environment.

She noted:  “The bank recorded significant growth during the 2015 financial year with gross earnings growing by 8.4 per cent from N278.52 billion inn 2014 to N301.85 billion in 2015 and profit before tax increasing by 3.7 per cent to N120.69 billion in 2015.

She pointed out that total asset as at December 2015 stood at N2.52 trillion, while loan to customers grew by 7.5 per cent to close at N1.37 trillion during the period.

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