Stanbic IBTC Holdings Plc has released its first-half (H1) results for the period ended June 30, 2018. The results at the Nigerian Stock Exchange (NSE) show the group’s gross earnings increased by 17.5 percent to N114.2 billion against N97.19billion recorded in the corresponding H1 period of 2017. Profit Before Tax (PBT) increased by 73.9percent for the period ended June 30, 2018 to N50.73billion against N29.16billion in H1’17.
The Board also declared an Interim Dividend of N1 per ordinary share of 50 kobo each, which amounts to N10.113billion, subject to deduction of appropriate withholding tax and regulatory approval. The share price remained stable at N50 after close of trading on Thursday at the Lagos Bourse.
Stanbic IBTC Holdings Plc has nine direct subsidiaries, namely: Stanbic IBTC Bank PLC, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Investments Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Ventures Limited, Stanbic IBTC Insurance Brokers Limited and Stanbic IBTC Trustees Limited and two indirect subsidiaries, namely: Stanbic IBTC Bureau De Change Limited, Stanbic IBTC Nominees Limited.
The company’s profit after tax (PAT) increased by 78.7percent to N43.08billion against N24.11billion in H1’17. Earnings Per Share (EPS) in the first half of 2018 increased by 80.9percent to 416kobo against 230kobo in the corresponding first half of 2017.
The interim dividend will be paid to shareholders of the financial institution whose names appear in the Register of Members as at the close of business on Tuesday 28 August 2018. The Register of shareholders will be closed from Wednesday August 29, 2018 to Tuesday September 4, 2018.
In line with the authority granted by shareholders to the Board of Directors Stanbic IBTC Holdings Plc at the Extra Ordinary General Meeting held on August 6, 2015, the Board has authorised that shareholders will have the option of electing to receive their Interim Dividends by way of New Ordinary Shares (Scrip Dividend).
In view of this, and in order to allow ample opportunity for shareholders who may wish to exercise the option of receiving Scrip Dividend instead of Cash Dividend, the Dividend Payment date in respect of this Interim Dividend shall be on Wednesday September 26, 2018.
On the above payment date, shareholders who have not elected to receive their Interim Dividend by way of Scrip Dividend, will have their Cash Interim Dividend paid electronically (provided that they have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts), or have dividend warrants dispatched to them (for those without e-dividend mandates). This Interim Dividend (whether cash or scrip) is only applicable to shareholders whose names appear on the Register of Members as at close of business on Tuesday 28 August 2018.
