From Nduka Chiejina (Assistant Editor)
Shareholders of Jaiz Bank Plc, will receive their first ever dividend payment since the bank began operation.
Shareholders of Jaiz Bank yesterday approved the bank’s proposed dividend payment out of N0.03 kobo per 50 kobo ordinary share N884 million) for the year ended 2019.
At its 8th Annual General Meeting (AGM) held at the bank’s Head Office in Abuja yesterday, chairman of the bank, Alhaji (Dr.) Umaru Abdul Mutallab, said the total N884million dividend payment will be subject to appropriate withholding tax.
According to him, “This dividend despite being modest signifies a lot to our shareholders, board and management. We remain strongly committed to sustaining the tempo in the coming year”.
The board pledged that “the bank is strongly committed towards creating optimum value to all its stakeholders.”
The payment will be made electronically to shareholders whose names appear in the Register of Members as at 26th June, 2020 and who must have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.
It was also revealed at the AGM that Jaiz bank declared a Profit After Tax of ¦ 2.4billion in its audited financial results for the year 2019, showing an increase of 193 percent from ¦ 834.4million recorded in the corresponding period of 2018.
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