FBN Holdings to Pay N12.563 Billion in Dividend for The 2021 Financial Year

Following a strong impressive 2021 performance, Nigeria’s leading financial institution FBN Holdings Plc has proposed to pay a final dividend of 35 kobo per 50 kobo share for the 2021 financial year.

This multiplied by the bank’s outstanding shares of 35.895 billion translates to N12.563 billion.

According to the lender, the dividend is subject to shareholders’ approval and appropriate withholding tax. However, only shareholders whose names appear in the Register of Members as at the close of business on June 13, 2022 will receive payment.

Register of shareholders will be closed from June 14 to June 15, 2022. While dividends will be paid electronically to shareholders on June 21, 2022. Please note that only shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank will be paid.

FBN Holdings grew profit after tax by 100% to ₦151.1 billion in 2021 from ₦75.6 billion recorded in 2020. While Earnings per share improved by 70.2% to N4.17 from N2.45 in the same period of 2020.

Commenting on the results, Dr. Adesola Adeduntan, Chief Executive Officer of FirstBank Group said: “Following years of strategic restructuring of the Bank’s balance sheet and operations, the Commercial Banking business is beginning to transition into a sustained growth phase delivering performance commensurate to the size of our business and capabilities of our people. Profit before tax is up 77.9%, gross earnings 30.3%, total assets 15.9% and customer deposits up 19.5%.

“This performance was driven by a relentless focus on the needs of customers and improving the competitiveness of our offerings. We have sharpened our ‘Go To Market’ approach to better leverage the opportunities which our large scale provides in addition to becoming more relevant to our clients by improving our value propositions.”