NPF MfB approves N457.3m dividend

By Kayode Tokede

NPF Microfinance Bank Plc has approved the sum of N457.3 million as dividend to be paid to the shareholders who currently hold the 2,286,637,766 fully paid ordinary shares of the bank.

This disclosure is part of the resolutions passed at the 27th Annual General Meeting of the bank, held on last week.

According to the notice:  “A dividend of 20k  per ordinary share of 50k recommended in the Report of the Directors for the year ended 31st December, 2020  be and is hereby payable to Shareholders whose names appeared in the Register of members at the close of business on Thursday 6th May 2021 .”

Other resolutions reached at the Annual General Meeting (AGM) include; The appointment of Messrs. Abdulrahman Satumari, Salihu Argungu Hashimu and Mrs. Rakiya Edota Shehu into the company’s Board were reviewed and approved.

Directors annual fees for the year ending 31st Decemeber 2021, was fixed at N25,000,000.

The Directors were also authorized to allot all outstanding unissued shares of the company, in the event of over subscription of the 3,000,000,000 units of shares earlier approved to be offered by the company.

Recall that NPF Microfinance Bank Plc had earlier reported a profit after tax of N614.4 million in 2020.