Jaiz Financial institution pays shareholders N884m maiden dividends

From Nduka Chiejina (Assistant Editor)

Shareholders of Jaiz Financial institution Plc, will obtain their first ever dividend fee for the reason that financial institution started operation.

Shareholders of Jaiz Financial institution  yesterday accepted the financial institution’s proposed dividend fee out of N0.03 kobo per 50 kobo odd share N884 million) for the 12 months ended 2019.

At its eighth Annual Basic Assembly (AGM) held on the financial institution’s Head Workplace in Abuja yesterday, chairman of the financial institution, Alhaji (Dr.) Umaru Abdul Mutallab, mentioned the whole N884million dividend fee might be topic to acceptable withholding tax.

In line with him,  “This dividend regardless of being modest signifies loads to our shareholders, board and administration. We stay strongly dedicated to sustaining the tempo within the coming 12 months”.

The board pledged that “the financial institution is strongly dedicated in the direction of creating optimum worth to all its stakeholders.”

The fee might be made electronically to shareholders whose names seem within the Register of Members as at 26th June, 2020 and who should have accomplished the e-dividend registration and mandated the registrar to pay their dividends straight into their financial institution accounts.

It was additionally revealed on the AGM that Jaiz financial institution declared a Revenue After Tax of ¦ 2.4billion in its audited monetary outcomes for the 12 months 2019, displaying a rise of 193 p.c from ¦ 834.4million recorded within the corresponding interval of 2018.