Access Bank pays shareholders N14.46bn dividend

Access Bank Plc has declared the sum of N14.463 billion as dividend payable to its shareholders for the year ended December 31, 2018.

This was disclosed at the 30th Annual General Meeting (AGM) of the company held yesterday in Lagos.

The board of directors of the institution led by Mosun Belo-Olusoga had proposed a final dividend of 25 kobo per ordinary shares, totalling N7.23 billion, which equals the interim dividend of 25k per ordinary share earlier paid at mid-year.

Meanwhile, the bank, alongside its subsidiaries, has posted N95 billion as profit after tax (PAT) for the year.

According to the Group Managing Director/Chief Executive Officer (GMD/CEO) of the bank, Herbert Wigwe, the business recorded increase in profits by displaying financial strength in a lackluster operating environment.

Wigwe, who addressed shareholders at the bank’s 30th Annual General Meeting (AGM) in Lagos on Thursday, also stressed that “the strength of the performance reflects a growing franchise supported by digital analytics and customer service touchpoints.”

Gross earnings of the bank went up by 15.2% – from N459 billion in 2017 to N529 billion in 2018; profit before tax appreciated to N103 billion, 32% higher than the 2017 record of N78 billion and N88 billion in 2016.