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Dividends Declared in the Week Ended April 8, 2022

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Dividend - Investors King

Six Nigerian listed companies declared dividends for the 2021 financial year last week. The six companies were Skyway Aviation Handling Company, Conoil Plc, Smart Products Nigeria, Prestigious Assurance, FCMB Group and Unilever Nigeria Plc. See other details below.

SKYWAY AVIATION HANDLING COMPANY PLC

Proposed Dividend: ₦0.165 kobo per ordinary share (sixteen and half Kobo)
Proposed Bonus: Nil
Qualification Date: Friday, 3rd June 2022
Closure Date: Monday, 6th – Friday, 10th June 2022
AGM Date: Wednesday, 29th June 2022
Payment Date: Wednesday, 29th June 2022

CONOIL PLC

Proposed Dividend: ₦2.50
Proposed Bonus: null FOR null
Qualification Date: 5/30/2022
Closure of Register Date: 5/31/2022

SMART PRODUCTS NIGERIA PLC

Proposed Dividend: ₦0.10
Proposed Bonus: null FOR null
Qualification Date: 7/7/2022
AGM Date: 8/11/2022
Payment Date: 8/18/2022
Closure of Register Date: 7/8/2022

PRESTIGE ASSURANCE PLC

Closure of Register for Dividend for the Year Ended 31 December 2021
Proposed Dividend: ₦0.015 kobo per ordinary share (one and half Kobo)
Proposed Bonus: Nil
Qualification Date: Friday, 20th May 2022
Closure Date: Monday, 23rd – Friday, 27th May, 2022
AGM Date Thursday, 26th May 2022
Payment Date: Friday, 27th May 2022

FCMB GROUP PLC

Proposed Dividend: ₦0.20
Proposed Bonus: null FOR null
Qualification Date: 4/14/2022
AGM Date: 4/27/2022
Payment Date: 4/27/2022
Closure of Register Date: 4/15/2022

UNILEVER NIGERIA PLC.

Proposed Dividend: ₦0.50
Proposed Bonus: null FOR null
Qualification Date: 4/18/2022
AGM Date: 5/5/2022
Payment Date: 5/6/2022
Closure of Register Date: 4/19/2022

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Dividends

Zenith Bank to Pay N97.33 Billion in Dividend for 2021 Financial Year

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Zenith Bank AGM 2021

Shareholders of Zenith Bank Plc, at the 31st Annual General Meeting (AGM) of the bank held on Wednesday, April 6, 2022, at the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend, expressing delight at the final dividend payment of NGN2.80 per share which brings the total dividend for the 2021 financial year to NGN3.10 per share with a total value of NGN97.33 billion.

In his statement, the Founder and Chairman of Zenith Bank Plc, Mr Jim Ovia, CON, thanked the shareholders for their unflinching loyalty, which has enabled the bank to rise to the pinnacle of the nation’s financial services industry, and assured them of the bank’s commitment to consistently deliver superior value to them.

Speaking on the bank’s performance, the Group Managing Director/Chief Executive, Mr Ebenezer Onyeagwu, said: “if you look at the bank’s history over the years, Zenith Bank has always grown, and even within the pandemic, we have maintained a reasonable positive growth trajectory. Growth is coming from the fact that we are deploying our digital capability to grow more businesses, simplify our service processes, make our processes more efficient, and deal with customers’ complaints. Apart from developing new products, we are discovering new business verticals, especially within the retail segment, which have significant revenue.” He added that: “meeting the expectation of shareholders means we have to work harder. The team is dodged, hardworking, resilient, and above all, we have a very supportive board that comes with superior guidance”.

Commenting on the dividend payout, the Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, expressed the delight of shareholders over the consistent payment of dividends by Zenith Bank, noting that the bank’s shares remain the toast of investors because the bank has never failed to pay dividends to shareholders.

Also speaking on behalf of shareholders, the President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, said: “The bank is doing very well. All the ratios and indices have gone up. And more importantly, while we were in the meeting, I got my alert of the credit of my dividend. This is very commendable. The leadership of the bank has been very effective; we thank Jim Ovia for the leadership he has been giving, he has increased the dividend in spite of the economic hardship in the country, and I believe the GMD is doing very well. I commend the management and staff of the bank, including the board, and I am very confident that this year would also be very good for the bank.” Dr Faruk Umar also commended the Group Managing Director for the numerous awards the bank received in 2021, especially the sustainability awards.

In spite of a challenging macroeconomic environment aggravated by the COVID-19 pandemic, the Zenith Bank Group achieved year-on-year (YoY) growth in gross earnings of 10% from NGN696.5 billion reported in the previous year to N765.6billion. This was on the back of a 23% YoY growth in non-interest income from N251.7billion to N309billion and a 2% YoY growth in interest income from N420.8billion to NGN427.6billion.

Profit before tax also grew by 10%, from NGN255.9 billion to NGN280.4 billion in the current year. The increase was due to growth in the top-line and very strong management of the treasury portfolio that increased efficiency, resulting in a drop in interest expense by 12% from NGN121.1 billion in 2020 to NGN106.8 billion in the current year. This further led to a 7% increase in net interest income of NGN320.8 billion in 2021 from NGN299.7 billion in 2020.

Customer deposits increased by 21%, growing from NGN5.34 trillion in the previous year to NGN6.47 trillion in the current year. The growth in customer deposits came from both corporate and retail customers. Retail deposits grew by NGN146 billion from NGN1.72 trillion in 2020 to NGN1.87 trillion in 2021. The Group’s continuous drive for retail deposits combined with the strategic rebalancing of its funding base helped to reduce the cost of funding from 2.1% to 1.5% in the current year. Although operating expenses grew by 13% YoY, growth remains below the inflation rate, and the Group improved its Earnings per Share (EPS) which grew by 6% from NGN7.34 to NGN7.78.

Total assets increased by 11%, growing from NGN8.48 trillion in 2020 to NGN9.45 trillion in 2021, mainly driven by growth in customer deposits. With the steady recovery in economic activities, the Group prudently grew its gross loans by 20%, from NGN2.9 trillion in 2020 to NGN3.5 trillion in 2021, with moderated NPL ratio from 4.29% to 4.19% YoY. The Group recorded impressive liquidity and capital adequacy ratios of 71.6% and 21.0%, which remained above regulatory thresholds of 30% and 15%, respectively.

In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.

Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.

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Dividends

Dividends Announced in the Week Ended April 1, 2022

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Dividend - Investors King

Investors King has compiled all the dividends announced in the week ended April 1, 2022, for the 2021 financial year. Check the listed companies, proposed dividends, qualification dates and payment dates below.

INFINITY TRUST MORTGAGE BANK PLC:

Proposed Dividend: ₦0.05
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date: 5/12/2022
Payment Date: 5/19/2022
Closure of Register Date: 4/25/2022

NEM INSURANCE PLC.

Proposed Dividend: ₦0.22
Proposed Bonus: null FOR null
Qualification Date: 4/29/2022
AGM Date: 5/19/2022
Payment Date: 5/19/2022
Closure of Register Date: 5/2/2022

BUA CEMENT PLC

Proposed Dividend: ₦2.60
Proposed Bonus: null FOR null
Qualification Date: 4/13/2022
AGM Date: 7/21/2022
Payment Date: 7/21/2022
Closure of Register Date: 7/11/2022

UAC OF NIGERIA PLC.

Proposed Dividend: ₦0.65
Proposed Bonus: null FOR null
Qualification Date: 6/7/2022
AGM Date: 6/22/2022
Payment Date: 6/23/2022
Closure of Register Date: 6/8/2022

SFS REAL ESTATE INVESTMENT TRUST

Proposed Dividend: ₦7.25
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date:
Payment Date: 5/13/2022
Closure of Register Date: 4/25/2022

CONSOLIDATED HALLMARK INSURANCE PLC

Proposed Dividend: ₦0.02
Proposed Bonus: null FOR null
Qualification Date: 5/13/2022
AGM Date:
Payment Date:
Closure of Register Date: 5/16/2022

AXA MANSARD INSURANCE PLC

Proposed Dividend: ₦0.22
Proposed Bonus: null FOR null
Qualification Date: 4/28/2022
AGM Date: 5/12/2022
Payment Date: 5/12/2022
Closure of Register Date: 4/29/2022

LIVINGTRUST MORTGAGE BANK PLC

Proposed Dividend: ₦0.06
Proposed Bonus: null FOR null
Qualification Date: 5/13/2022
AGM Date: 6/2/2022
Payment Date: 6/6/2022
Closure of Register Date: 5/16/2022

BETA GLASS PLC

Proposed Dividend: ₦1.10
Proposed Bonus: 1 FOR 5
Qualification Date: 6/10/2022
AGM Date: 7/5/2022
Payment Date: 7/6/2022
Closure of Register Date: 6/13/2022

ALUMINIUM EXTRUSION IND. PLC.

Proposed Dividend: ₦0.50
Proposed Bonus: null FOR null
Qualification Date: 5/27/2022
AGM Date:
Payment Date:
Closure of Register Date: 5/30/2022

MCNICHOLS CONSOLIDATED PLC

Proposed Dividend: ₦0.03
Proposed Bonus: null FOR null
Qualification Date: 6/30/2022
AGM Date: 7/28/2022
Payment Date: 8/4/2022
Closure of Register Date: 7/1/2022

AIICO INSURANCE PLC.

Proposed Dividend: ₦0.02
Proposed Bonus: null FOR null
Qualification Date: 5/20/2022
AGM Date: 5/27/2022
Payment Date: 5/30/2022
Closure of Register Date: 5/23/2022

CHEMICAL AND ALLIED PRODUCTS PLC

Proposed Dividend: ₦1.25
Proposed Bonus: null FOR null
Qualification Date: 6/1/2022
AGM Date: 6/16/2022
Payment Date: 6/17/2022
Closure of Register Date: 6/2/2022

MRS OIL NIGERIA PLC.

Proposed Dividend: 0.00
Proposed Bonus: 1 FOR 8
Qualification Date: 7/1/2022
AGM Date: 8/2/2022
Payment Date: 8/9/2022
Closure of Register Date: 7/4/2022

JAIZ BANK PLC

Proposed Dividend: ₦0.04
Proposed Bonus: null FOR null
Qualification Date: 5/26/2022
AGM Date: 6/8/2022
Payment Date: 6/8/2022
Closure of Register Date: 5/27/2022

COURTEVILLE BUSINESS SOLUTIONS PLC

Proposed Dividend: 0.04
Proposed Bonus: null FOR null
Qualification Date: 6/2/2022
AGM Date: 6/24/2022
Payment Date: 6/24/2022
Closure of Register Date: 6/3/2022

WEMA BANK PLC.

Proposed Dividend: ₦0.24
Proposed Bonus: null FOR null
Qualification Date: 4/27/2022
AGM Date: 5/10/2022
Payment Date: 5/10/2022
Closure of Register Date: 4/28/2022

JULIUS BERGER NIGERIA PLC

Proposed Dividend: ₦2.50
Proposed Bonus: null FOR null
Qualification Date: 5/27/2022
AGM Date: 6/16/2022
Payment Date: 6/17/2022
Closure of Register Date: 5/30/2022

OKOMU OIL PALM PLC.

Proposed Dividend: ₦8.00
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date: 5/25/2022
Payment Date: 5/25/2022
Closure of Register Date: 4/25/2022

STERLING BANK PLC.

Proposed Dividend: ₦0.10
Proposed Bonus: null FOR null
Qualification Date: 5/27/2022
AGM Date: 6/16/2022
Payment Date: 6/16/2022
Closure of Register Date: 5/30/2022

STANBIC IBTC HOLDINGS PLC

Proposed Dividend: ₦2.00
Proposed Bonus: null FOR null
Qualification Date: 4/13/2022
AGM Date: 5/26/2022
Payment Date: 5/27/2022
Closure of Register Date: 4/14/2022

FIDSON HEALTHCARE PLC

Proposed Dividend: ₦0.50
Proposed Bonus: null FOR null
Qualification Date: 7/8/2022
AGM Date: 7/28/2022
Payment Date: 7/29/2022
Closure of Register Date: 7/11/2022

INDUSTRIAL & MEDICAL GASES NIGERIA PLC

Proposed Dividend: 0.00
Proposed Bonus: 1 FOR 5
Qualification Date: 6/9/2022
AGM Date: 6/24/2022
Payment Date: 6/24/2022
Closure of Register Date: 6/10/2022

NIGERIAN AVIATION HANDLING COMPANY PLC

Proposed Dividend: ₦0.41
Proposed Bonus: 1 FOR 5
Qualification Date: 7/15/2022
AGM Date: 7/29/2022
Payment Date: 7/29/2022
Closure of Register Date: 7/18/2022

BERGER PAINTS NIGERIA PLC

Proposed Dividend: ₦0.40
Proposed Bonus: null FOR null
Qualification Date: 4/21/2022
AGM Date: 5/19/2022
Payment Date: 5/19/2022
Closure of Register Date: 4/22/2022

TOTALENERGIES MARKETING NIGERIA PLC

Proposed Dividend: ₦18.20
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date: 6/16/2022
Payment Date: 6/17/2022
Closure of Register Date: 4/25/2022

FIDELITY BANK PLC

Proposed Dividend: ₦0.35
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date: 5/5/2022
Payment Date: 5/5/2022
Closure of Register Date: 4/25/2022

GLAXO SMITHKLINE CONSUMER NIG. PLC.

Proposed Dividend: ₦0.45
Proposed Bonus: null FOR null
Qualification Date: 4/22/2022
AGM Date: 5/26/2022
Payment Date: 5/27/2022
Closure of Register Date: 4/25/2022

NPF MICROFINANCE BANK PLC

Proposed Dividend: 0.00
Proposed Bonus: 1 FOR 9
Qualification Date: 5/27/2022
AGM Date:
Payment Date:
Closure of Register Date: 5/30/2022

NPF MICROFINANCE BANK

Proposed Dividend: ₦0.10
Proposed Bonus: null FOR null
Qualification Date: 5/6/2022
AGM Date: 5/26/2022
Payment Date: 5/26/2022
Closure of Register Date: 5/9/2022

 

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Dividends

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

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Ecobank - Investors King

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.”

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