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Fidelity Bank’s 2015 profit increase by 0.78%, declares N4.6bn dividend



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By Chioma Obinagwam

Fidelity Bank Plc has said its profit after tax (PAT) for the period ended December 31, 2015 grew marginally by 0.78 per cent to N13.90 billion from N13.79 billion recorded in the prior year.

Again, Gross earnings of Fidelity Bank appreciated 7.93 percent to N146.89 billion from N136.09 billion recorded in 2014 end.

However, Profit before tax (PBT) of the bank dropped 9.61 per cent to N14.02 billion from N15.51 billion posted in the corresponding period of 2014, the lender said in a filing with the Nigerian Stock Exchange (NSE).

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As a result of the profit growth, the board of directors of the bank said it would be offering investors 16 kobo per share dividend for the period ended December 31, 2015.

Fidelity Bank also disclosed that the qualification date for it is April 15, 2016; adding that the 16 kobo dividend is payable to shareholders whose names appear on the Bank’s register as at the close of business on April 18 to April 22, 2016, while its Annual General Meeting (AGM) and payment date would be on May 5, 2016 respectively.

The lender said the 16 kobo per ordinary share of 50 kobo each amounts to N4.6 billion and it’s subject to Withholding Tax at the appropriate tax rate, which will be deducted before payment.