Fidelity Bank Plc approves dividend payment of N10.14 billion for FY 2021

Fidelity Bank Plc has approved a dividend of 35 kobo to be paid to its shareholders for the full-year period ended December 2021.

This was passed as a resolution at the recently concluded 34th Annual General Meeting held on Thursday, May 5, 2022.

This information was disclosed in a notice signed by the company’s secretary, Ezinwa Unuigboje and filed with the Nigerian Exchange Group (NGX).

The resolution states that “a dividend of 35 kobo per ordinary share of 50 kobo each amounting to N10,136,904,992.20 (Ten Billion One Hundred and Thirty-six Million, Nine Hundred and Four Thousand, Nine Hundred and Ninety-two Naira, Twenty Kobo only) with respect to the 2021 financial year be and is hereby approved”.

The qualification date for the Register of Members will be communicated duly to shareholders, as well as the date of payment.

Other resolutions passed at the 34th Annual General Meeting include:

The election of Mrs. Morohunke Adenike and Mr. Stanley Chiedoziem Amuchie as Independent Non-Executive Director and Executive Director, respectively.
The re-election of Mr. Mustafa Chike-Obi, Alh. Isa Inuwa, Engr. Henry Obih as Non-Executive Director.

That Non-Executive Directors’ remuneration for the financial year ended December 31, 2021, and succeeding years until reviewed by the company is hereby fixed at N31,000,000 for each Non-Executive Director and N40,000,000 for the Chairman of the Board of Directors.

The dividend which amounts to N518 million will be disbursed electronically to ordinary shareholders.

This dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

According to the disclosure filed with the Exchange (NGX), shareholders are to ensure their names are registered in the Register of Members by the qualification date of May 17, 2022.

On Friday, June 3rd, 2022, the dividend which amounts to N518 million will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Tuesday, May 17th 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

The company’s registrar is Veritas Registrars Ltd and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.