Stanbic IBTC Holdings Plc, one of Nigeria’s leading lender will distribute about N26 billion as interim dividend to its shareholders for the financial year ended June 30, 2024.
The cash payout will amount to N2 per share for every shareholder.
“An Interim Dividend of 2.00 (Two Naira) per ordinary share of 50 kobo each, that is, =N=25,913,996,000.00, subject to deduction of appropriate withholding tax and regulatory approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Wednesday 18 September 2024,” the Holdco said in a statement to the Nigerian Exchange Limited.
According to the Holdco, register of shareholders will be closed from Thursday 19 September 2024 to Thursday 25 September 2024. Wednesday 18 September 2024.
“On Monday 30 September 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at close of Trading on Wednesday 18 September 2024, and who have completed the edividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” it further disclosed.
Stanbic IBTC Holdings Plc announced its audited half year ended June 2024 result and accounts to investing public, reporting N116.4 billion profit after tax, about 71.3 percent increase from N67.92 billion reported in half year ended June 2023.
The Group’s in its profit & loss figures posted on the Nigerian Exchange Limited (NGX) declared N147 billion profit before tax in H1 2024, about 77 percent increase from N82.99 billion reported in H1 2023.
Amid significant increase in profit, the management of Stanbic IBTC Holdings announced an interim dividend of N2.00 per ordinary share of 50 kobo each, that is, N25.9 billion.
The group’s gross earnings rise to N378.55 billion in H1 2024, representing a 77.44 percent increase from the N213.33 billion gross earnings posted in H1 2023.
From the profit & loss figures, net interest income of Stanbic IBTC Holdings stood at N174.3 billion in H1 2024, about 140 per cent increase from N72.68billion reported in H1 2023, driven by interest income and expenses.
In the period under review., its interest income stood at N246.13billion, 123 percent growth from N110.26billion in corresponding period, while interest expenses moved from N37.6 billion in H1 2023, representing an increase of 91.2 per cent from N71.83 billion declared in H1 2024.
From the balance sheet position, the group declared N6.1 trillion total assets as of June 2024, about 19per cent increase from N5.15 trillion reported in 2023 full financial year.
The growth in total assets is driven by N2.17 trillion loans and advances as of June 2024, about 6.5 percent increase from N2.04 trillion reported in 2023 and N2.89 trillion deposits from customers as of June 30, 2024, representing an increase of nearly six percent from N2.7 trillion reported in 2023 full financial year.
