FCMB pays N3.96bn dividend to shareholders | Dailytrust

FCMB pays N3.96bn dividend to shareholders

First City Monument Bank (FCMB)
First City Monument Bank (FCMB)

FCMB Group Plc has announced a N3.96 billion dividend payment of 20 kobo per ordinary share to its shareholders at its 9th Annual General Meeting (AGM).

In a statement yesterday, the bank stated that it recorded a seven per cent growth in gross revenue to N212bn in 2021, an improvement on N198.4bn in 2020. 

The Group achieved a profit before tax of N22.7bn compared to N21.9bn the prior year. As a result, profit after tax rose by 7% to N20.9bn in 2021.

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

Jadesimi said: “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. 

“This has increased the confidence of our shareholders, investors, and other stakeholders in the business. We remain committed to enhanced earnings contributions from our Group of companies to deliver a sustainable revenue base going into 2022 and beyond.”

Its Group Chief Executive, Mr Ladi Balogun, said the bank must evolve into an ecosystem of several platforms to funding, technological and channel distribution for agents and customers to enable a fairer and more prosperous world.

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