Sterling Financial Holdings Company Plc has announced dividend payments to shareholders after the completion of a transformative scheme.

The announcement comes as a result of the Court Ordered meeting held on September 19, 2022, which approved the Scheme of Arrangement between Sterling Bank Plc and its shareholders.

Under the scheme, Sterling Bank Plc transferred its 28,790,418,124 fully paid-up ordinary shares of 50 Kobo each to Sterling Financial Holdings Company Plc (Holdco), establishing Holdco as the sole shareholder of the Bank.

This development also led to the delisting of the Bank’s shares from the Daily Official List of the Nigerian Exchange Limited (NGX) on April 6, 2023.

The Bank, now re-registered as a private company at the Corporate Affairs Commission (CAC), is preparing for its Annual General Meeting scheduled for Today, May 31, 2023.

As part of the process, the Bank will be paying a dividend of 15 kobo per ordinary share of 50 kobo each to Sterling Financial Holdings Company Plc, which is entitled to the dividend as the sole beneficial shareholder.

Following the receipt of the dividend from the Bank, Sterling Financial Holdings Company Plc will issue its Interim accounts and distribute the received amount as Interim Dividend to the shareholders listed in the Register of Members as of the close of business on May 19, 2023.

The company has assured shareholders that the obligation to pay the 15 kobo dividend will be fully discharged in accordance with the terms and conditions outlined.

To keep shareholders informed about the progress, Sterling Financial Holdings Company Plc has committed to providing updates on the dividend payment date no later than June 20, 2023.

The company secretary, Temitayo Adegoke, stated in the announcement that the dividend distribution would be executed in line with the disclosed terms and conditions.

Stanbic IBTC Holdings PLC, a leading financial institution in Nigeria and Africa, has approved N2 per ordinary share of 50 kobo for its shareholders at the just concluded 11th Annual General Meeting. 

The financial institution made the announcement after a unanimous approval of the dividend recommendation by the Board of Directors.

Shareholders present at the meeting, held at the Orchid & Lantana Halls in EKO Hotel & Suites, Victoria Island, Lagos, expressed their satisfaction and gratitude for the company’s commitment to rewarding their trust and loyalty.

The declared dividend of Two Naira per share will be payable on Friday, May 26, 2023. Shareholders whose names appear in the Register of Shareholders as of the close of business on Monday, April 3, 2023, will be eligible to receive this rewarding payout.

Mrs. Sola David-Borha, Chief Executive of Stanbic IBTC Holdings PLC, expressed her satisfaction with the outcome of the Annual General Meeting and emphasized the company’s commitment to creating value for shareholders.

She said, “We are pleased to declare a generous dividend, reflecting our strong financial position and confidence in our business model. This dividend declaration is a testament to the trust our shareholders have placed in us, and we remain committed to delivering sustainable growth and attractive returns.”

The dividend declaration also reflects Stanbic IBTC Holdings PLC’s confidence in its future prospects. By rewarding its shareholders, the company seeks to further strengthen the bond with its investor community and attract more investors who recognize its commitment to long-term value creation.

Seplat Energy Plc, a prominent Nigerian energy company listed on both the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE), has declared an interim dividend of US3 cents (United States Three Cents) per Ordinary Share.

This dividend will be paid to Seplat’s shareholders whose names are registered as of the close of business on May 18, 2023.

To facilitate the dividend payment process, Seplat’s Registrar, Datamax Registrars Limited, will be closing the Register of Shareholders on May 19, 2023. This closure is necessary to prepare for the distribution of the interim dividend.

For shareholders holding their shares on the Nigerian Exchange Limited without a valid Nigerian Certificate for Capital Importation (CCI), the dividend will be paid in Naira as the default currency. Shareholders with a valid CCI can expect their dividend in US dollars as the default currency, but they also have the option to receive the entire payment in Naira. However, partial elections are not allowed, and evidence of the CCI must be provided to Datamax Registrars Limited.

Shareholders holding their shares through depository interests on the London Stock Exchange will receive their dividend in US dollars by default. Nonetheless, these shareholders also have the alternative to receive the full payment in pounds sterling. Similar to the previous case, partial elections are not permissible.

To exercise the dividend currency option, shareholders must notify the Company’s Registrars by June 2, 2023. Failure to make an election will result in the dividend being paid in the default currency. The election form will be sent to relevant shareholders and can also be accessed on Seplat’s website.

The exchange rate for the Naira or Pounds Sterling amounts payable will be determined based on the relevant exchange rates applicable to the US dollar on May 17, 2023. This information will be communicated by the Company on May 18, 2023.

The payment date for the interim dividend is scheduled for around June 16, 2023. Shareholders whose names appear on the Register of Members as of May 18, 2023, and who have completed the e-dividend registration, will receive the payment electronically into their bank accounts.

Seplat advises shareholders who have yet to complete the e-dividend registration to download the Registrar’s E-Dividend Mandate Activation Form from the company’s website or http://www.datamaxregistrars.com/images/forms/seplate_e-mandate%20form.pdf. The form should be completed and submitted to the Registrar or the respective banks. Shareholders with shares through depositary interests on the LSE should provide their account details to Computershare, the Company’s UK depositary.

Seplat Energy continues its commitment to providing value to its shareholders through consistent dividend payments and efficient dividend administration processes.