Fidelity Bank to pay shareholders N8bn interim dividend for HY’23

Fidelity Bank has declared an interim dividend of N8 billion (representing N0.25 per share) to be paid to shareholders for the half year ended June 2023.

This was disclosed in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by Nairametrics.

The Board of Directors of the company proposed the payment of an interim dividend in the sum of N0.25kobo per ordinary share on the issued capital of 32,012,211,331 Ordinary Shares.

Details of dividend payments

The Bank disclosed that the interim dividends would be paid to shareholders whose names appear in the Register of Members at the close of business on September 15, 2023, subject to the appropriate withholding tax.

In terms of payment, shareholders would receive their dividends electronically provided their names appear on the Register of Members as of September 15, 2023, and have completed the e-dividend registration which mandates the Registrar to pay their dividends directly into their bank.

Unclaimed Dividends

Fidelity Bank also disclosed that shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation.

Also, shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration form or contact the Registrar.

What You Should Know

Fidelity Bank reported its 2023 second-quarter results showing pre-tax profits grew by 184.08% year on year, reaching N43.58 billion.

This took half-year pre-tax profits to N61.19 billion versus N25.67 billion in the same period last year.

The substantial growth in pre-tax profit can be attributed to the significant growth in gross earnings, driven by growth in net interest income, net fees, commission income, and other operating income, including a substantial YoY gain of 5,053% in net foreign exchange gains.