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  • Shareholders Still Showering Encomiums on Stanbic IBTC Over Dividend Pay-Out

    Shareholders Still Showering Encomiums on Stanbic IBTC Over Dividend Pay-Out

     

    Shareholders of Stanbic IBTC Holdings PLC have continued to laud the Group for their last dividend payout of 360 kobo per share for the financial year ended 31 December 2020, as well as the bonus shares of one for every six ordinary shares, approved at the last Annual General Meeting held in May 2021.

     

    Some of the shareholders who expressed their appreciation to Stanbic IBTC said that they were glad that despite all the socio-economic challenges of 2020, the Stanbic IBTC Group continued to keep many Nigerians in paid employment and continued to invest in communities within Nigeria via various Corporate Social Investment projects.

     

     “Indeed, the Stanbic IBTC Group deserves a lot of commendation” said Mr. Tunji Bamidele, one of the Company’s shareholders.

     

    The last audited results showed that Stanbic IBTC posted gross earnings of N234.446 billion against N233.808 billion in 2019. Stanbic IBTC ‘s deposits to customers improved from N819.944 billion to N637.840 billion, while loans and advances improved from N532.124 billion to N625.139 billion.

     

    Based on the results, the board recommended a final dividend of 360 kobo in addition to a bonus of one new share for every six ordinary shares already held. The shares of Stanbic IBTC jumped 9.9 per cent from N44.05 to N48.45 as investors reacted positively to the results and dividend declaration.

     

    Analysts at FSDH Merchant Bank Research had said the 6.6 per cent increase in total income to N198.9 billion recorded by Stanbic IBTC was primarily driven by a 14.7 per cent jump in non-interest revenue N124.7 billion.

     

    Non-interest revenue ascended 14.7 per cent, powered by a 43.4 per cent increase in trading income to N52.1.

     

    Mr Tunde Bamidele, a shareholder, expressed gratitude to the Board and Management of Stanbic IBTC for the steadfastness, hard work and dedication, which resulted in the N83 billion profit after tax for the 2020 financial year: and the subsequent 360 kobo dividend and allotment of bonus shares.

     

    He said: “I would like to express my gratitude to the Board of Directors, Management and members of Staff of Stanbic IBTC for a job well done. Despite the COVID-19 pandemic, the company declared a dividend of 360 kobo, which is impressive compared to other players in the financial industry. I would also like to thank you for giving us a bonus share for every six shares held. Indeed, the bonus dividend is robust.”

     

    Stanbic IBTC remains one of Nigeria’s foremost financial institutions. The financial institution’s Chief Executive, Dr Demola Sogunle, has pledged the organisation’s commitment to put in more efforts towards satisfying the company’s customers, clients, and shareholders.

     

  • Nigerian Breweries Shareholders Approve N7.52billion Dividend Payout

    Nigerian Breweries Shareholders Approve N7.52billion Dividend Payout

     

    Shareholders of Nigerian Breweries Plc, Nigeria’s foremost brewer have approved the dividend payout of N7.52 billion for the 2020 financial year.

     

    The approval was given at the 75th Annual General Meeting of the company held at MUSON Centre in Lagos on Thursday, April 22, 2021, even as the company assured the shareholders of its commitment to continually improve the return on their investments.

     

    Speaking during the AGM, shareholders noted that the total dividend payout comes as a result of the exceptional performance recorded by the company for the 2020 financial year.

     

    They stated that the 2020 results contained in the audited report and the 100% dividend payout is a strong reflection of the company’s stability as well as its resilience in the face of the global pandemic and operating challenges in the economy.

    L-R: Non-Executive Director, Nigerian Breweries Plc, Mrs. Adeyinka Aroyewun; Company Secretary/ Legal Director, NB Plc, Mr. Uaboi Agbebaku; Chairman, NB Plc, Chief Kola Jamodu and Finance Director, NB Plc, Mr. Rob Kleinjan during the 75th Annual General Meeting of the company held in Lagos today

    Shareholders who were in attendance expressed appreciation to the board and management of the company for exhibiting the great capacity to keep the company going and stable amid the global pandemic and other operating challenges confronting it.

     

    Speaking during the Q and A section of the meeting, shareholders gave kudos to the company for making a total dividend payment at a time when most listed companies find it hard to pay dividends to their shareholders.

     

    One of the shareholders, Mr. Boniface Okezie who spoke at the meeting hailed the board and management of Nigerian Breweries Plc for helping to maintain a strong and healthy balance sheet amidst recession and inflation that had affected businesses and the Nigerian economy in general.

     

    According to Okezie, the fact that the company remains competitive despite the huge impact of the COVID-19 pandemic on businesses demonstrates the uniqueness of the cost-saving measures deployed.

     

    “Despite the impact of the recession and COVID-19 pandemic, the company was still able to maintain stability. This goes to show the quality of leadership at the company. I must confess that the board and management have done well to keep to its promise of paying dividends. We can only hope that they keep up the tempo so that we can receive higher dividends in the next financial year”, he said

     

    In his remarks at the meeting, the Chairman of Nigerian Breweries Plc, Chief Kola Jamodu explained that each shareholder would receive a final dividend of N0.69k at an ordinary share of 50k, having received an interim dividend of 25k.

     

    On his part, the Company Secretary/Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku disclosed that the 2020 financial year recorded a significant boost in sales volume even though the cost of sales rose from N191.76billion to N218.36billion.

     

    Agbebaku who was optimistic about the growth of the company going forward noted that the company would continue to give utmost priority to the welfare of its shareholders in its decision making.

     

     A breakdown of the company’s audited results shows that its Profit after Tax (PAT) recorded for the 2020 financial year stood at N7.52billion while net revenue increased sharply from N323 billion to 337.01billion between 2019 and 2020, representing a 4.3% rise.

     

    Marketing and Distribution Expenses reduced from N77.70 billion in 2019 to N70.7billion in 2020, while Administrative expenses also dipped by 1.79% from N19.30 billion to N18.96 billion, which was largely informed by the elimination of bad costs.