Ecobank to Pay $40 Million in Final Dividend for 2021 Financial Year

Following a 334% increase in profit after tax for the financial year ended 2021, shareholders of Ecobank have approved a total sum of $40 million as the final dividend for the year.

In a statement obtained by Investors King, shareholders of the leading financial institution will be paid $0.0016 per ordinary share (translating to $40 million), subject to appropriate withholding tax and approval. The final dividend will be paid only to shareholders whose names appear in the Register of Members at the close of business on 3 June 2022.

According to Ecobank, the Register of members will be closed from 6 -10 June 2022. While dividend will be paid electronically on 6 July 2022 to shareholders whose names appear on the Register of Members as of 3 June 2022 and have completed the e-dividend registration and mandated the Registrar to pay their dividends into their bank accounts.

Therefore, the lender encourages shareholders to complete the e-dividend registration form using the E-Dividend Mandate Activation Form link. The form is also available on the website of the Registrars, www.gtlregistrars.com. Please complete and submit to the Registrar or their respective banks.

However, Ecobank advised shareholders with unclaimed, yet to be presented for payment or returned for validation, dividend warrants and share certificates to complete the e-dividend registration form or contact the Registrar.

Speaking on the dividend approval, Company Secretary, Madibinet Cisse, “We are pleased to inform our shareholders and the public that the Board of ETI, at its meeting of February 25, 2022, approved the Ecobank consolidated audited accounts for the year ended December 31, 2021 subject to relevant regulatory approvals.

“The Board also recommended the payment of a dividend of USD0.16 cents per share is a total amount of circa USD40 million. The relevant resolutions will be presented for shareholders’ approval at the upcoming Annual General Meeting of ETI.”

He further stated that “The details of the audited accounts will be published upon approval of relevant regulators. Consequently, the closed period which commenced from January 1, 2022, will continue until 24 hours after the Audited Accounts for the year ended December 31, 2021, are released to the Stock Exchanges on which Ecobank Transnational Incorporated is listed.”