Finance

GTCO shareholders endorse N3 per dividend payment

GTCO shareholders endorse N3 per dividend payment

Shareholders of Guaranty Trust Holding Company Plc have endorsed the payment of a total dividend of N3 per share for the financial year ended December 31, 2021.

This endorsement was made at the holding company’s first annual general meeting in Lagos.

The group proposed a final dividend of N2.70 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2021 financial year to N3 per unit of ordinary share.

Shareholders commended the board for the transition into a holding company and the financial performance achieved during the period under review despite the operating environment.https://imasdk.googleapis.com/js/core/bridge3.509.0_en.html#goog_1809595431

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They also unanimously gave their approval for the appointments of the new board membership.

Speaking on behalf of shareholders, the patron, Nigeria Shareholders Solidarity Association, Timothy Adesiyan, appreciated the progress that the bank had made in its transition to a holding company.

He said that the shareholders had great expectations from the company and with the good corporate governance principle by the company, the future was bright.

The Chairman of the Progressive Shareholders Association of Nigeria, Boniface Okezie, commended the board of GTCO for being proactive in becoming a holding company.

Speaking to shareholders, the Chairman, GTCO, Mr Hezekiah Oyinlola, stated that 2021 was a pivotal year in its corporate history.

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“After years of revisioning and planning, we successfully reorganised into a holding company to harness the potential within our operating environment and consolidate our position as a leading financial services provider in Africa,” he said.

The Group Chief Executive Officer, GTCO, Mr Segun Agbaje, said 2021 results showed resilient performance across all financial indices, reaffirming the bank’s position as one of the best managed financial institutions in Africa.

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He said, “The Group closed the year 2021 with total assets of N5.44tn, up by 9.9 per cent from N4.95tn the full year 2020 position.

“Across all its banking subsidiaries in West Africa, East Africa and the United Kingdom, the Group continues to maintain a diversified balance sheet.

“The Group closed 2021 with a profit before tax of N221.5bn. This is despite the challenges and headwinds presented by the operating and regulatory environments in 2021.”

Punch

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