SHAREHOLDERS of FCMB Group PLC will receive a total dividend of N9.901 billion for the financial year ending December 2023, representing a reward of 50 kobo for each share held.
The dividend represents 100% growth over 25 kobo per share which the financial institution paid its shareholders in 2022.
This was contained in the company’s corporate action announced at the Nigerian Exchange Limited (NGX) on Monday, according to a report by Nairametrics.
●Still subject to shareholders’ approval
According to the company, the final dividend is subject to withholding tax and approval of shareholders at the next annual general meeting.
The dividend will be paid to shareholders whose names appear in the register of members as at the close of business on Monday, 13 May 2024.
The statement signed by the company noted that On Friday, 24 May 2024, dividend will be paid electronically to shareholders whose names appear on the register of members as at the close of business on Monday, 13 May 2024, and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their Bank accounts.
●Advice to shareholders
Shareholders who have yet to complete the e-dividend registration are advised to download the registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the registrars.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the registrar.
Nairametrics further reported that FCMB Group PLC, one of the nation’s Tier-2 banks, would seek shareholders’ approval to raise N150 billion capital at the group’s annual general meeting (AGM) scheduled on Friday, 24 May 2024.
This was contained in the group’s AGM notice.
According to the notice, the group would raise up to N150 billion or its equivalent in other currencies through the issuance of various securities, including ordinary shares, preference shares, convertible or non-convertible notes, bonds, or other instruments, in both Nigerian and international capital markets, with flexibility in pricing, issuance methods, maturity periods, and terms, subject to regulatory approvals.
The Group will also seek shareholders’ endorsement for the increase of the Company’s issued share capital from N9,901,355,390.50 divided into 19,802,710,781 ordinary shares of 50k each to N19,802,710,781.00 divided into 39,605,421,562 ordinary shares of 50k each by adding 19,802,710,781 ordinary shares, which will rank equally with existing shares but won’t be considered for dividends recommended for the year ended 31 December 2023.
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