Zenith Bank, GTCO, 2 others declare N40.58bn interim dividend in H1 2022
Four banks, Stanbic IBTC Holdings Plc, Zenith Bank Plc, Guaranty Trust Holding Company Limited (GTCO) and Fidelity Bank Plc have declared N40.58billion interim dividend payout to shareholders in half year (H1) ended June 30, 2022 results and accounts.
Fidelity Bank joined other elite banks in interim dividend payout, on the backdrop of impressive corporate earnings.
Westernpost gathered that Stanbic IBTC leads other banks in interim dividend payout in the period under review, after announcing 62 per cent increase in profit before tax to N39.98 billion in H1 2022 from N24.71 billion in H1 2021, while profit after tax stood at N30.67 billion, up 36per cent from N22.54 billion reported in H1 2021.
Stanbic IBTC declared N1.50 interim dividend for H1 2022, while Zenith Bank, GTCO announced N0.30 interim dividend to shareholders who invested in both banks.
Fidelity Bank, however, declared N0.10 interim dividend in the period under review.
Chief Executive, Stanbic IBTC, Dr Demola Sogunle said: “Despite the challenges we faced within the Nigerian operating environment in the first half of the year, we reported significant growth in our key metrics.
“Following our return to growth trajectory in the first quarter, the Group’s profitability increased by 36per cent year-on-year (YoY) driven by growth across our revenue streams, amid increased operating expenses.
“We are on track in the achievement of the guidance we provided for the year following the progress we have witnessed based on our H1 2022 results.”
In terms of value, the breakdown of interim dividend showed that Stanbic IBTC declared N19.44billion in H1 2022, while Zenith Bank declared N9.4billion interim dividend payout to shareholders in the period under review.
Zenith Bank still maintains its position as the most profitable bank in Nigeria after declaring N130.01billion profit before tax in H1 2022 from N117.06billion in H1 2021 and five per cent increase in profit after tax to N111.4billion in H1 2022 from N106.12billion in H1 2021.
As GTCO announced N8.83billion interim dividend in H1 2022, Fidelity Bank announced N2.9billion interim dividend payable to shareholders on September 20, 2022.
