N3.96 Billion Dividend Of 20 Kobo Per Share Approved By FCMB's Shareholders

A dividend payment of 20 kobo has been approved by the shareholders of FCMB Group Plc.

According to a statement, the approval was disclosed at the ninth annual general meeting of FCMB Group Plc, which was attended physically and virtually by shareholders in Lagos.

It stated, “The directors of the diversified financial services holding company announced N3.96bn dividend payment of 20 kobo per ordinary share to its shareholders.

“The shareholders unanimously approved the dividend payout and commended the bank’s impressive performance last year.”

FCMB Group recorded a seven percent growth in gross revenue was recorded by the bank from N198.4bn in 2020 to N212bn in 2021

Before tax, the group achieved a profit of N22.7bn from N21.9bn the prior year. As a result, profit after tax rose by seven percent to N20.9bn in 2021.

While the Chairman, FCMB Group Plc, Ladi Jadesimi, was presenting the report for the year ended December 31, 2021, he said decisions made over the past few years had fostered business diversification which was driving the performance of the Group’s operating companies in a challenging COVID-19 pandemic world.

“In 2021, we progressed on the path of good governance, strengthened and improved it in alignment with our long-term strategy and highest international standards", Jadesimi said.

Ladi Balogun, the Group Chief Executive, FCMB Group Plc, said, “We continued to see traction in our digital-led strategy. Traditionally, we have been a platform – a group of companies providing our customers with various financial services.

“To fulfill our purpose, we must evolve to be more than a platform into an ecosystem of several platforms (our proprietary companies, funding, technological, channel distribution partners and agents) and customers to enable a fairer and more prosperous world.”

Speaking at the AGM, the National Chairman, Progressive Shareholders Association, Chief Boniface Okezie, added, “We are very excited about the overall performance of FCMB Group in 2021.

"The increase in declared dividend from 15 Kobo last year to 20 Kobo this year is proof that the FCMB Group has a capable board, management and staff who are getting things right.”