Nigeria: Fidelity Bank Plc increases its dividend payout by 59% in 2020

Nigerian lender, Fidelity Bank Plc has announced a dividend payment of N0.35 kobo per 50 kobo ordinary share for the financial year ended 31 December, 2021. The dividend declared for the period is a 59% increase from what the bank paid its shareholders in 2020 (N0.22 kobo).

This dividend payment will be subject to appropriate withholding tax on the day of payment.

According to the disclosure filed with the Exchange (NGX), shareholders are to ensure their names are registered in the Register of Members by the qualification date of April 22, 2022.

On Thursday, May 5, 2022, the dividend, which amounts to N10.14 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Friday, April 22nd 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is First Registrars & Investor Services Limited and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

Fidelity Bank Plc has 28,974,797,023 outstanding shares and a market capitalization of N99.38 billion at the time of filing this report. The company’s shares opened trading on 1st of April, 2022 at N3.20 per share and closed at N3.43 per share.

What you should know

• Fidelity Bank Plc had released its Audited 2021 financial results for the period ended 31 December, 2021, reporting a profit of N35.58 billion, representing a 33.50% growth year on year. Net interest income of N94.88 billion was reported in the full-year period compared to N104.12 billion in the same period of 2020.
• Earnings per share was recorded as N1.23 kobo against N0.92 kobo recorded in the corresponding period of 2020.
• Year-to-date, the company’s shares have appreciated by 34.51% from N2.55 at the beginning of the year to N3.43 as at the time of writing this report.