GTbank Approves N73.577bn Dividend For FY 2019

• GTbank Approves N73.577bn Dividend For FY 2019

The board of directors, Guaranty Trust Bank Plc, has approved the sum of N73.577 billion to be paid as dividend at a rate of N2.50 per 50 Kobo ordinary share.

At the bank’s thirtieth Annual General Meeting held at the Oriental Hotel, 3, Lekki Road on Monday, March 30, 2020, the bank proposed and duly passed the audited financial statements for the year ended December 31, 2019, the bank stated in the statement released through the Nigerian Stock Exchange.

It stated, “that the final dividend in respect of the financial year ended December 31, 2019, in the sum of N73,577,948,060.00 from the profit after taxation of the Bank be and is hereby approved and declared payable as dividend at a rate of N2.50k kobo per 50 Kobo Ordinary Share (bringing the total dividend paid to Shareholders for the 2019 financial year to N2.80k per Ordinary Share of 50 Kobo each), subject to the appropriate withholding tax deduction, to Shareholders whose names are registered in the Company’s Register of Members at the close of business on Wednesday, March 18, 2020.”

“That the Directors be and are hereby authorised to fix the remuneration of the Auditors, Messrs. PricewaterhouseCoopers in respect of the year ending December 31, 2020.”

“That Alhaji Mohammed Abiodun Usman, Mrs. Sandra Mbagwu-Fagbemi and Mrs. Aderonke Kuye, be and are hereby elected as the representatives of shareholders on the Statutory Audit Committee of the Company for the 2020 financial year.”