Guaranty Trust Holding Company Plc approves N91.24Bn dividend payout for 2022

Shareholders of Guaranty Trust Holding Company Plc have approved the payment of a total dividend of N91.24Bn, which represents N3.10 per share for the financial year that ended on December 31, 2022.

This decision was made at the company’s second annual general meeting held virtually on Thursday.

The Group had proposed a final dividend of N2.80 per unit of ordinary share, which is in addition to the interim dividend of 30 kobo that was paid in June. This brings the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.

Chief Timothy Adesiyan, the immediate past President of Nigeria Shareholders Solidarity Association, commended the management of GTCO for the impressive 2022 financial performance and consistent dividend policy of the Group. He also acknowledged the Group’s contribution to the growth of the economy through its lending to agriculture, SMEs, and the real sector.

Speaking to shareholders, the Chairman of GTCO, Mr Hezekiah Oyinlola, reflected on the challenges that the Group faced at every turn and the significant milestones that were achieved in its journey towards creating a robust and agile institution.

He said, “in 2022, our ambition was crystal clear, and we set out to achieve it with unwavering focus. We completed the setup of our holding company and acquired full ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.”

The Group Chief Executive Officer, GTCO, Mr Segun Agbaje, acknowledged that the Group delivered a decent performance in spite of the varying challenges and headwinds that weighed on growth in 2022. The Group posted a pre-tax profit of N214.2bn, representing a dip of 3.0 per cent from N221.5bn posted in full year, 2022.

With the endorsement of the dividend payout, shareholders of GTCO can expect to receive their dividends soon, which is good news for investors in the company. The Group’s consistent dividend policy and its commitment to contributing to the growth of the economy are positive indicators of a healthy and sustainable business.