Shareholders await GTBank, 3 others H1 interim dividend payout

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Story by Kayode Tokede

Shareholders on the Nigerian Stock Exchange (NSE) are anxiously awaiting Guaranty Trust Bank plc (GTBank), Zenith Bank plc, United Bank for Africa plc (UBA) and Access Bank plc half year ended June 30, 2019 interim dividend payout.

In the prior half year ended June 30, 2018, the likes of GTBank and Zenith Bank had declared N0.30 interim dividend respectively.

The other two leading banks, UBA and Access Bank declared N0.20 and N0.25 interim dividend respectively.

According to NSE, listed companies are expected to submit H1 unaudited results on/or before June 30, 2019.

For late filing of accounts, companies are expected to notify the bourse reason behind late filing or face monetary sanctions or suspension from trading if notice was not communicated.

A stockbroker, Mr. Ekundayo who spoke with Nigerian NewsDirect, said impressive performance by these commercial banks always have positive sentiment trading on The Exchange.

He maintained that investors are awaiting interim dividend payout by these commercial banks, stressing that these commercial banks are major drivers in the equities market.

A check by Nigerian NewsDirect  revealed that UBA submitted its H1 audit results on July 2nd 2018, to become the first commercial banks to among the four to comply to NSE listing rules in H1 2019.

Guaranty Trust Bank Plc had submitted its H1 2018 audited H1 accounts on August 8th 2018 while Access Bank submitted on August 29th 2018.

However, the above commercial banks have written to the Exchange latest about  H1 results filing, disclosing that the Central Bank of Nigeria (CBN) has to approve the accounts and management finetune interim dividend payment to shareholders.

Zenith Bank in a statement signed by the company secretary/General Counsel, Mr. Michael Otu, said ” in line with listing regulations for the NSE for quoted companies, Zenith Bank hereby informs you that the board of directors of the Bank is scheduled to meet on July 23, 2019, to consider the Group’s Audited Interim Financial Statements for the half year ended June 30, 2019. The meeting will also consider amongst others, the proposal for recommendation of interim dividend for shareholders.

Please note that we are required to forward the Audited Interim Accounts and Financial Statements to the CBN for approval, prior to the release of the results on the floor of the NSE. We hereby notify you of the decisions reached after the approval of the CBN is obtained.”

The company secretary of Access Bank, Mr. Sunday Ekwochi in a statement said, “This is to inform the NSE that a meeting of the Board of Directors of Access has been scheduled for Friday July 26,2019 ti consuder and approve the company’s Audited Interim Financial Statements for the half year ended June 30, 2019.The payment of interim dividend may also be considered at the meeting.

The audited accounts will be submitted to CBN for approval before releasing on the floor of the NSE.

The company has also declared a closed period in respect of transaction on its securities from July 6, 2019 to such date as will be subsequently announced (both days inclusive) in compliance with the listing rules of NSE.

“Accordingly, no directors, employee, person discharging managerial responsibility, adviser of the company and their connected persons may directly or indirectly, deal in the securities of the Company in any manner during the Closed Period.

In addition, the company secretary, GTBank, Mr. Ehri Obebeduo also said, “Pursuant to the post-listing requirements of the NSE for quoted companies, GTBank hereby informs you that the board of Durectors of our bank is scheduled to meet in July 21,2019, to consider the audited financial statements for also be discussed at the meeting.”

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