Stanbic IBTC declares interim dividend

Stanbic IBTC logo

Stanbic IBTC Holdings Plc, has declared an interim dividend of 70 Nigerian kobo to its stakeholders, according to reports filed at the Nigerian Stock Exchange today.

The financial group in its first half of the year result saw gross earnings jump 30 per cent to N54.5billion, from N41.89billion last year. Profit before tax also ballooned 130 per cent from N6.1 billion last year to N13.1 billion the same period this year.

The banking group also saw its after-tax profit more than double, rising to N10.1 billion, from N4.99 billion last year.

The holding company began operation last year March.

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Its principal activity is to carry on business as a financial holding company, to invest in and hold controlling shares
in as well as manage equity in its subsidiary companies.

The company has eight subsidiaries, namely: Stanbic IBTC Bank PLC, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset
Management Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Investments Limited, Stanbic IBTC Stockbrokers Limited, Stanbic
IBTC Ventures Limited and Stanbic IBTC Trustees Limited.

Closure date for the interim dividend payout is 14 August, while the payment date is 22 August. According to the filings by the group, the dividend payout will gulp N7billion.

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