Guaranty Trust Holding Company (GTCO) Plc has proposed an interim dividend of 30 kobo per 50 kobo ordinary share to its shareholders for the first half (H1) of the year ended 30 June, 2021.
The proposed dividend is subject to appropriate withholding tax, with a qualification date of September 27, 2021. This is coming after the company released its audited financial results for the period under review to the Nigerian and London Stock Exchanges.
The group noted that on Tuesday, October 12, 2021, the dividend which amounts to N8.83 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Monday, September 27, 2021, and who have completed the e-dividend registration and mandated their Registrar to pay their dividends directly into their bank accounts.
Holders of GTCO’s Global Depository Receipt (GDR) listed on the LSE will also receive their dividend payment subsequently. According to the filing obtained from the NGX’s website, the group reported profit before tax (PBT) of N93.1 billion, representing a dip of 15.2 per cent compared to N109.7 billion recorded in the corresponding period of June 2020.
However, the Group’s transactional income maintained an upward trajectory as shown in fees and commission income which grew by 44.7 per cent from N26.5 billion in H1 2020 to N38.3 billion in H1 2021.
Commenting on the financials, the Group Chief Executive Officer, GTCO Plc, Segun Agbaje, said the results reflect the group’s commitment to building on its track record of solid financial performance, and its capability to constantly innovate will ensure it stays ahead of the curve at all times.
Agbaje said, “We are counting on the enduring support of our loyal customers and the hard work of our dedicated staff to continually make end-to-end financial services easily accessible to everyone and to create the best outcomes for all our customers and the communities in which we operate”.
He further stated that; “Looking forward, we are focused on bringing to bear the full benefits of our new corporate structure by consolidating our leading position in all the economies where our franchise operates. We will also diversify our earnings from core banking, continue to empower businesses across Africa and beyond, and generate long-term returns for our shareholders”.
The structure and earning capacity of the Group’s balance sheet remains resilient with total assets closing at N5.017 trillion, primarily driven by a 4 per cent increase in deposit liabilities from N3.611 trillion in December 2020 to N3.755 trillion in June 2021 and a slight dip in loans (net) by 1.8 per cent from N1.663 trillion as at December 2020 to N1.632 trillion in June 2021.
SOURCE: THE SUN