The shareholders of FBN Holdings plc at the company’s third annual general meeting (AGM) held Thursday in Lagos gave approval for the board to pay cash dividend of 10kobo per share and a scrip of 1 for every 10 units of shares of company.
Based on the current share price of FBN Holdings plc at about N9.8 per share, the bonus amounts to about 98kobo per share.
Among other ordinary business at the meeting, the shareholders also received the company’s audited accounts for the year ended December 31, 2014 together with the reports of the directors, auditors and audit committee.
Oba Otudeko, chairman, FBN Holdings plc told shareholders at the annual general meeting that in spite of compelling investment propositions including “our huge capital-intensive acquisitions and the need to strengthen the capital adequacy ratio of the commercial banking group so as to fuel our future growth aspiration, as a group, we continue to live up to our unbroken promise to our shareholders to deliver annual dividend payouts.”
FBN Holdings plc overcame a number of significant challenges last year occasioned by tremendous headwinds from both the macroeconomic standpoint and the regulatory point of view.
“In spite of the heightened challenges, FBN Holdings plc delivered solid financial results in 2014, across a number of key financial metrics including gross earnings and profit before taxes,” Otudeko said.
FBN Holdings plc recorded N480.6bn gross earnings in 2014 against N396.2bn in 2013 financial year.
Net Interest Income rose to N243.9bn in 2014 as against N230.1bn in 2013. Non Interest Income also rose from N67.3bn in 2013 to N111.8bn in 2014; while Profit Before Tax (PBT) rose to N92.9bn in 2014 from N91.3bn in 2013.
Return on Average Equity rose to 16.7 percent in 2014 from 15.5 percent in 2013. Earnings Per Share (EPS) in 2014 was N2.55 from N2.16 in 2013.
Source : BusinessDay