Stanbic IBTC Proposes N15.36bn Dividend

• Stanbic IBTC Proposes N15.36bn Dividend

Stanbic IBTC Holdings Plc has proposed a dividend of N15.56bn for the period ended December 31, 2018.

Stanbic, in a notice made available to the Nigerian Stock Exchange, said a final dividend of N1.50 per ordinary share of 50 kobo each was proposed.

It said the proposal would bring the total amount of dividends to be paid to N15.36bn, adding that the money would be subjected to deduction of appropriate withholding tax and approval.

According to the notice, the dividends will be paid to shareholders whose names appear in the register of members as of the close of business on March 20, 2019.

The notice read in part, “The register of shareholders will be closed from Thursday, March 21, 2019 to Thursday, March 28, 2019.

“On Thursday, June 20, 2019, dividends will be paid electronically to shareholders whose names appear on the register of members as of the close of business on Wednesday, March 20, 2019 and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank account.

“Shareholders who are yet to complete the e-dividend registration are advised to download the registrar’s e-dividend mandate activation form, which is available on our registrars’ website.”

It added that shareholders with dividend warrants and share certificates that were unclaimed or yet to be presented for payment or returned for validation were advised to complete the e-dividend registration or contact the registrars.

According to the notice, the company’s Annual General Meeting will be held in Lagos on June 19.