- Proposes dividend of 20 kobo to its shareholders
Fidelity Bank Plc has delivered another impressive full-year result, sustaining the sterling financial performance that has been witnessed by the top lender in recent years.
The bank’s full year 2019 results released on the Nigerian Stock Exchange (NSE) yesterday showed strong growth across key income and balance-sheet lines. Gross earnings grew by 14 per cent to N215.5 billion, from N189 billion in 2018 while profit before tax rose by 21 per cent to N30.4 billion, compared with N25.1 billion recorded in the previous year. Net profit surged by 24 per cent from N22.9 billion in 2018 to N28.4 billion in 2019.
Sustaining the sterling financial performance that has been witnessed in the period under review, the top lender also proposed a dividend payment of 20 kobo per 50 kobo share, subject to shareholders’ approval and appropriate withholding tax. This was disclosed in a notification sent by the bank to the Nigerian Stock Exchange. The notice stated that the register of shareholders would be closed from April 20 to 24, 2020. The dividend, which is subject to withholding tax, will be paid to shareholders whose names appear on the register of members at the close of business on the 17th of April 2020. Earlier in the year, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019.