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GTBank Pays N7.2bn Interim Dividend for 2011

By on September 11, 2011

The liquidity position of the shareholders of Guaranty Trust Bank Plc has been enhanced as  the bank paid a total of N7.2 billion  as interim dividend for the  2011 half year ended June 30.

The dividend, which translated into a 25 kobo pay-out per 50 kobo share, had earlier been announced by the bank at the Nigerian and  London Stock Exchanges in August 2011 in line with its “robust dividend policy.”

The dividend was announced, along with the bank’s audited half year results, which showed impressive growth across all indices.

A statement from the GTBank Plc last Friday quoted the Managing Director/Chief Executive Officer, Mr.Segun Agbaje as assuring the shareholders of the bank that they would continue to receive positive returns on their investments.

According to him, the bank remained committed to improving the quality of its service offerings, growing market share and adding value to all stakeholders in the years to come.

He  said the shareholders who had submitted mandates for e-dividend payment would have their dividends credited to their accounts immediately, while physical dividend warrants would be mailed to outstanding shareholders.

Agbaje  attributed the bank’s successful outing in the half year period to the dedication of its employees, a clearly-defined operating strategy and adherence to the bank’s founding principles of service delivery, innovation, professionalism and integrity.

GTBank’s  audited financials for the 2011 half year period showed a 50.8 per cent growth in profit after tax from N18.2 billion reported in June 2010 to N27.5billion, while shareholders funds’ stood at N220.7billion as at June  2011.

Agbaje stated that the bank’s desire to continually reposition its service offerings and make banking easier for its customers were the reasons for recent innovations like the GTBank exclusive in-branch banking service called ‘fastrack.’

“This service, which is the first of its kind in the Nigerian banking industry, is a fast, secure and innovative in-branch banking solution that allows GTBank customers perform all cash based banking transactions with only their debit cards and PIN-PADS, a new, secure technology available in all GTBank branches. The service has been described as convenient, secure and efficient. The Bank has also commenced a strategic deployment of e-branches pan Nigeria,” Agbaje explained.

GTBank was recognised last July ‘Best bank’ in Nigeria’ at the Euromoney Awards for Excellence.