Sterling Bank plc pays cash dividend

Nigeria’s Sterling Bank plc will release its full audited accounts for 2011 Friday, but 24 hours ahead, the bank could not hold back its good news to its stakeholders, as it unveiled its plans to pay cash dividend.

In a statement today, the bank said it would pay investors 10 kobo for every share and that the closure date for qualification is 27 April.

The bank has scheduled its AGM for 15 May in Lagos and payment date, 3 days after.

News of dividend payment must have come as a pleasant surprise since the bank in its third quarter result announced a decrease in its PAT from N5.3 billion in same period in 2010 to N3.7 billion last year.