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Access Bank CEO/MD Herbert Wigwe to Earn N1.5 Billion in Dividend for 2021 Financial Year

Published

3 years ago

on

Herbert Wigwe - Investors King

Following Access Bank’s strong 2021 financial year, the Group Managing Director and Chief Executive Officer, Herbert Wigwe will pocket a total of N1.518 billion from his shareholdings in the bank.

This is in line with the boss’s holdings in the bank. A breakdown of the bank’s directors and their interests revealed that Mr. Herbert Wigwe’s direct interest stood at 201.232 million shares while his indirect interest was 1.317 billion shares as of December 2021.

A direct or indirect interest is an interest held directly or an interest held indirectly through interests in one or more intermediary entities connected through a chain of ownership to the entity in question.

Mr. Wigwe’s direct and indirect interests in Access Bank stood at 1.518 billion shares.

It should be recalled that Investors King reported in September 2021 that Access Bank paid an interim dividend of 30 kobo per ordinary share of 50 kobo each in the first half of 2021. On Friday, the bank’s board of directors proposed a final dividend of 70 kobo per ordinary share of 50 kobo each on the 35,545,225,622 issued ordinary shares.

Investors in the bank will earn N1 per ordinary share of 50 kobo held in the bank for the 2021 financial year. This means Mr. Herbert Wigwe with a combined interest of 1.518 billion shares will earn N1.518 billion in dividends.

Access Bank grew profit after tax by 51% to N160.2 billion in the 2021 financial year and gross earnings surged to N971.9 billion. Customer deposits sit at N7 trillion with non-performing loans moderating to 4%.

Profile of Mr. Herbert Wigwe

“Mr. Wigwe started his professional career with Coopers & Lybrand Associates, an international firm of Chartered Accountants. He spent over 10 years at Guaranty Trust Bank Plc where he managed several portfolios, including financial institutions, large corporates and multinationals. He left Guaranty Trust Bank as an Executive Director to co-lead the transformation of Access Bank Plc in March 2002 as Deputy Managing Director. He was appointed Group Managing Director/CEO effective January 1, 2014.

“Mr Wigwe is an alumnus of the Harvard Business School Executive Management Programme. He holds a master’s degree in Banking and International Finance from the University College of North Wales, a master’s degree in Financial Economics from the University of London and a B.Sc. degree in Accounting from the University of Nigeria, Nsukka. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

“Mr Wigwe is the Chairman of The Access Bank (UK) Ltd and a Non-Executive Director of Nigerian Mortgage Refinance Company Plc; FMDQ OTC Securities Exchange; Shared Agents Network Expansion Facilities Ltd and Agri-Business/ SME Enterprises Investment Scheme. He also sits on the Boards of CACOVID-19 LTD/GTE, HIV Trust Fund of Nigeria and the Nigerian Business Coalition Against Aids.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Dividends

Access Holdings to Pay N15.99 Billion Interim Dividend, Aig-Imoukhuede to Receive N1.151 Billion

Published

1 month ago

on

September 24, 2024

By

Aigboje Aig-Imoukhuede

Access Holdings Plc has announced an interim dividend of 45 kobo for every ordinary share of 50 kobo held in the company in the first half (H1) of 2024.

With 35.545 billion in outstanding shares, this translates to N15.99 billion in interim dividend. However, Aigboje Aig-Imoukhued, the chairman of Access Holdings, will take home N1.151 billion in dividend.

The chairman presently holds 119,231,715 direct shares and 2,438,256,720 indirect shares in the company, according to the company’s latest financial statement obtained by Investors King.

According to the lender, subject to appropriate withholding tax the dividend will be paid to shareholders whose names appear on the Register of Members at the close of business on Thursday, October 3, 2024.

The bank will pay dividends on Thursday, October 17, 2024 to all shareholders whose names appear on the Register of Members at the close of business on Thursday, October 3, 2024.

These shareholders are expected to have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

However, shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on https://theaccesscorporation.com/ and complete and submit it to either the Registrar, their respective Banks or any Access Bank Plc branch.

Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

Access Holdings grew profit after tax by 108% to N347.922 billion from N167.601 billion filed in H1 2023 while gross earnings jumped 133.5% from N940.311 billion in the first half (H1) of 2023 to N2.196 trillion in H1 2024.

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Dividends

Guaranty Trust Holding Company Declares N1 Interim Dividend, Sets October 7 for Payout

Published

1 month ago

on

September 13, 2024

By

GTBank -Investors King

Guaranty Trust Holding Company Plc has announced its plan to pay a sum of N1 per share of 50 kobo as interim dividends, to all registered shareholders on October 7, 2024.

According to a recent statement issued by the company on NGX , “the dividend is subject to withholding tax deduction, and will be paid to shareholders whose names appear in the register as of September 25, 2024.”

In its recently released audited consolidated and separate financial statements for the period ended June 30, the Group reported profit before tax (PBT) of N1.004 trillion, becoming the first Nigerian financial institution to cross the N1 trillion mark in profit.

This represented a 206.6 percent increase over N327.4 billion recorded in the corresponding period that ended June 2023.

The group’s profit for the period was slated at N905.67 billion, a 222 percent increase from 280.52 recorded in the corresponding period that ended June 2023.

“On October 7, 2024, the dividend will be paid electronically to ordinary shareholders whose names appear on the Register of Members as at September 25, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly to their bank accounts,” the statement said.

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Dividends

Stanbic IBTC to Pay N25.913 Billion in Interim Dividend for H1 2024

Published

2 months ago

on

September 4, 2024

By

Stanbic IBTC Bank- Investors King

Stanbic IBTC has announced a proposed interim dividend of N1.50 per ordinary share of 50 kobo each for the first half (H1) of 2024. This amounts to a total payout of N25,913,996,000.

Subject to regulatory approval and deduction of withholding tax, the dividend will be paid to shareholders whose names appear on the Register of Members as of the close of business on Wednesday, 18 September 2024.

The Register of Shareholders will be closed from Thursday, 19 September 2024, to Thursday, 25 September 2024.

Shareholders can expect to receive their dividends electronically on Monday, 30 September 2024, provided they are registered on the Register of Members as of Wednesday, 18 September 2024, and have completed the e-dividend registration process, ensuring that their dividends are directly deposited into their bank accounts.

Shareholders who have not yet completed the e-dividend registration are encouraged to download the Registrar’s E-Dividend Mandate Activation Form from the First Registrars website: https://firstregistrarsnigeria.com/download-forms/, complete it, and submit it to the Registrar or their respective banks.

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