Guaranty Trust Holding Company (GTCO) Plc has announced a total dividend payout of N94.180 billion for the financial year ending December 2023, translating to N3.20 per share held by shareholders.
These recommendations were made by GTCO’s board of directors in accordance with the provisions of Section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria.
During the 2023 financial year, directors declared and paid an interim dividend of 50 Kobo per ordinary share, covering the half-year period ended June 30, 2023, for the share capital of 29,431,179,224 ordinary shares of 50 Kobo each.
Furthermore, the directors recommended a final dividend of N2.70k per ordinary share of 50 Kobo, bringing the total dividend for the financial year ended December 31, 2023, to N3.20k.
This announcement was made in the company’s corporate action, which was published at the Nigerian Exchange Limited (NGX) on Monday and obtained by Nairametrics.
Subject to shareholders’ approval, the final dividend will be paid to shareholders whose names appear in the register of members at the close of business on April 26, 2024. The next Annual General Meeting will present the payment for shareholders’ ratification and approval.
Dividends will be paid electronically on May 9, 2024, to shareholders whose names appear on the register of members as of April 26, 2024, and who have completed the e-dividend registration, mandating the Registrar to pay their dividends directly into their bank accounts.
Shareholders who have not completed the e-dividend registration can download the registrar’s E-Dividend Mandate Activation Form from the registrar’s website.
Furthermore, shareholders with dividend warrants and share certificates that remain unclaimed or are yet to be presented for payment or validation are urged to complete the e-dividend registration or contact the registrar.
GTCO reported gross earnings of N1.187 trillion, significantly increasing from the N539.235 billion reported the previous year. Notably, interest income and foreign exchange (FX) revaluation gains were major contributors to the gross earnings.
In line with efforts to bolster capital reserves, GTCO intends to seek shareholder approval next month to raise to $750 million, aligning with regulatory targets set by the Central Bank of Nigeria to strengthen the country’s financial system and foster economic growth.
