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FBN Holdings shareholders approve N32.63b dividend

By on June 3, 2013

Directors of FBN Holdings, at its first annual general meeting on Friday in Lagos assured its shareholders of the company’s resolve to continue doing business in a manner that would translate into success and more dividend payout for shareholders.

Shareholders were elated by the board’s offer of N32.632 billion dividend payout or 100 kobo per share in the first year of operating as a holding company.

According to Sunny Nwosu, national coordinator of the Independent Shareholders Association of Nigeria (ISAN), while applauding the performance said: “We shareholders are happy that the board is offering us a dividend of 100 kobo in the first AGM, this is a sign that the future is bright. But in an attempt to ensure a brighter future, the management of our commercial banking arm, First Bank of Nigeria, should look for ways of covering up for the withdrawal of COT and ATM charges before it is too late.

On his part, Chief Timothy Adesiyan, President of the Nigerian Shareholders Solidarity Association (NSSA) also praised the group for adhering to the requirement of the International Financial Reporting standard (IFRS).

[Daily Independent]