Fidelity Bank Plc proposes dividend of 20 kobo to its shareholders

Fidelity Bank Plc has 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.

CBN / Fidelity Bank

Date of payment: 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.

Gross Earnings: The Company’s gross earnings for the period stood at N217.3 billion, indicating a 15% increase compared to N188.8 billion that was reported during the comparable period in 2018.

Net Interest Income: There was a 12% increase in net interest income which stood at N82.1 billion. During the comparable period in 2018, the company’s net interest income was N73.3 billion.

Profit before income tax for the period is N32.3 billion, compared to N25 billion that was recorded in 2018. This represents a 29% increase.

In the same vein, profit for the period increased by 28.5% to N29.5 billion, compared to N22.9 billion profit earned by the company in 2018.

About Fidelity Bank Plc: Fidelity Bank Plc. began operation in 1988 as Fidelity Union Merchant Bank Limited. In 1999, it converted to a commercial bank and changed its name to Fidelity Bank Plc. It became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services.

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