Would you like to receive notifications on latest updates of the following headlines?

Fidelity Bank Shareholders to Receive 60 Kobo Dividend

POSTED ON April 16, 2024 •   BUSINESS      BY Abiodun Saheed Omodara
Fidelity Bank Logo l Credit: Fidelity l Source: @fidelitybankplc

The board of directors at Fidelity Bank has suggested a final dividend payment of 60 kobo per share to be given to shareholders for the financial year 2023. 

This marks a 20% increase from the previous year's dividend of 50 kobo.

The announcement was made in the company's audited annual reports and financial statements for 2023, which were submitted to the Nigerian Exchange Limited on Monday.

According to the report, "In accordance with Section 379 of the Companies and Allied Matters Act (CAMA) 2020, the board of directors of the group proposes a final dividend of N0.60k per share (compared to N0.50k per share on 31 December 2022) for the 2023 financial year.

The proposed final dividend of N0.60k per share, combined with the interim dividend of N0.25k per share paid on September 22, 2023, brings the total dividend for 2023 to N0.85k per Ordinary Share, to be paid from the retained earnings account as of December 31, 2023."

According to the audited results, Fidelity Bank’s profit before income tax rose by 131.49 per cent to N124.26bn from N53.68bn in 2022. Similarly, profit after tax also went up to N99.45bn from N46.72bn.

“During the financial year, the bank acquired a wholly owned subsidiary, Fidelity Bank UK Limited (former Union Bank UK Plc) at “a value of $50m with a charge of the gap between the completion net asset value and the planned net asset value on the purchase consideration, which has now been completed in the sum of $1.8m based on the Sales Purchase Agreement between the seller and Fidelity Bank Plc Nigeria.”

It added that a former Executive Director of North, Mr Hassan Imam, retired from the board with effect from January 10, 2024, following his appointment as the managing director of Keystone Bank.

READ ALSO
FG Urges Project Accountants to Prioritize Integrity in Fund Management
BY Abiodun Saheed Omodara July 25, 2025 0

The Federal Government has cautioned project accountants and financial officers to prioritize care a...

READ ALSO
Electricity Tariffs: Power Firms Push Back Against State Negotiations
BY Abiodun Saheed Omodara July 24, 2025 0

On Wednesday, energy commissioners from all 36 states announced their willingness to engage with pow...

READ ALSO
CBN Maintain Interest Rate at 27.5%
BY Abiodun Saheed Omodara July 22, 2025 0

The Central Bank of Nigeria (CBN) has decided to keep the country's Monetary Policy Rate (MPR) at 27...

READ ALSO
Economic Reforms Slash Nigeria's Debt Servicing from 97% to 50%- Oloyede
BY Abiodun Saheed Omodara July 22, 2025 0

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, revealed th...

READ ALSO
CBN, Private Sector Raise Concerns Over Nigeria Customs' B’Odogwu Digital Clearance System
BY Abiodun Saheed Omodara July 21, 2025 0

The Central Bank of Nigeria (CBN) and the organized private sector have expressed concerns regarding...

READ ALSO
Nigeria-Egypt Trade Surges by 68%, Foreign Minister Highlights Trade Imbalance
BY Abiodun Saheed Omodara July 21, 2025 0

Trade between Nigeria and Egypt has seen a significant increase of 68.45 percent over the past year....

READ ALSO
Enugu State Cuts Electricity Tariff for Band A Customers to N160/kWh, Effective August 1, 2025
BY Abiodun Saheed Omodara July 21, 2025 0

The Enugu State Electricity Regulatory Commission has released a new tariff order for MainPower Elec...

READ ALSO
Naira Weakens 0.14% Despite Initial Gains, Closing at 1,532.34/$
BY Abiodun Saheed Omodara July 21, 2025 0

The naira ended the past week weaker than the week before, depreciating by 0.14% week-on-week to rea...

OUR CHANNELS:

PDP Shifts National Convention to November, Picks Ibadan Amid Internal Power Struggle
BY Abiodun Saheed Omodara July 25, 2025 0

Abuja, Nigeria  – The People’s Democratic Party (PDP) has announced the postpo...


APC Appoints Yilwatda Nentawe as Chairman, Declares 2027 a ‘Done Deal
BY Abiodun Saheed Omodara July 25, 2025 0

Abuja, Nigeria – The National Executive Committee (NEC) of the All Progressives Congress (APC)...


Osun APC, PDP Clash Over Governor Adeleke's Failed Defection Attempt
BY Abiodun Saheed Omodara July 25, 2025 0

The Osun State branches of the All Progressives Congress (APC) and the People’s Democratic Par...


Court Reinstates Benue CJ, Criticizes Alia
BY Abiodun Saheed Omodara July 25, 2025 0

The National Industrial Court in Abuja, on Wednesday, ruled that the Benue State House of Assembly's...


LASG Announces Five Major Road Projects in Alimosho to Be Completed by 2025
BY Abiodun Saheed Omodara July 24, 2025 0

The Lagos State Government has revealed that five significant road projects in the Alimosho Local Go...


Electricity Tariffs: Power Firms Push Back Against State Negotiations
BY Abiodun Saheed Omodara July 24, 2025 0

On Wednesday, energy commissioners from all 36 states announced their willingness to engage with pow...


Two Businessmen Sentenced to Two Years in Prison for Cybercrime
BY Abiodun Saheed Omodara July 25, 2025 0

A Federal High Court located in Ikoyi, Lagos, has sentenced two businesspersons, Emmanuel Nwanze and...


Nigeria Police Force Dismantles Notorious Arms Supply Network Linked to Bandits
BY Abiodun Saheed Omodara July 23, 2025 0

The Nigeria Police Force has successfully intercepted a notorious arms supply network linked to armi...


Maduka Okoye Suspended for Two Months Amid Betting Scandal
BY Abiodun Saheed Omodara July 25, 2025 0

Udinese and Nigerian goalkeeper Maduka Okoye has received a two-month suspension from the Italian Fo...


APC's National Assembly Power Grows to 70 with PDP Senator Defections
BY Abiodun Saheed Omodara July 24, 2025 0

The number of All Progressives Congress (APC) senators in the National Assembly increased to 70 on W...


More Articles

Load more...

Menu