Fidelity Bank pays N4.1bn dividend

Shareholders of Fidelity Bank Plc have been rewarded with N4.056 billion representing 14 kobo per ordinary share as dividend in the bank for the financial year ended 31 December, 2016 upon approval at the bank’s 29th annual general meeting held in Lagos yesterday. The dividend was unanimously approved by the shareholders at the meeting.

The Chairman of Fidelity Bank Plc, Mr. Ernest Ebi attributed financial performance of Fidelity Bank in 2016 to the slowdown in business activities due to lower government revenues arising from depressed oil prices, lower interest rate regime, rising inflation rate.

lower consumer disposable income, tougher operating environment and the impact of the current devaluation on asset quality.

The Managing Director of the bank, Mr. Nnamdi Okonkwo said the success story of Fidelity Bank Plc was anchored on improved service quality, innovative products and services tailored to meet the varying needs of the banks customers.

[Daily Trust]

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