These top bankers will over N2bn from interim dividends

With the release of their H1 2018 results the five tier one banks, comprising FBN Holdings, UBA Plc, GTbank, Access Bank and Zenith Bank, major shareholders of these banks are set to make over N2bn from the payment of interim dividends.

National Daily gathered that these banks have a tradition of paying interim dividends, and for retail investors, this is a period they look forward to.

Top on the list is Jim Ovia whose direct holdings in Zenith Bank comprise 2,946,199,395 shares.  His dividends from his direct holdings thus amount to N883, 859,818.

The billionaire also holds 1,513,137,010 shares through the following entities: Institutional investors Limited, Lurot Burca Limited, Jovis Nigeria Limited, Veritas Registrars Limited, Zenith General Insurance. Dividends from his indirect holdings thus amount to N453, 941,103.

In total, he will earn N1, 337,800,921 from interim dividends. Year on year, his earnings increased by N222, 966,820. The bank upped its payout from N0.25 to N0.30.

Chairman of UBA, Tony Elumelu, is expected to earn N447, 099,868 as dividends payment this month.

He has a direct holding of 189,851,584 shares in UBA Plc and indirect shareholding amounting to 2,045,647,761 shares through HH Capital, Heirs Holdings and Heirs Alliance.

UBA declared an interim dividend of N0.20 per share. Dividends from his direct holdings amount to N37, 970,316. Earnings from his indirect holdings amount to N409, 129,552.

Compared to the prior year, this amounts to a decline of N7,475,331 as he earned N454,575,199 as interim dividends.

The drop in earnings is due to a sale of a small fraction of his holdings sometime this year. Indirect holdings dropped from 2,083,024,416 as at December 2017 to 2,045,647,761 as at June 30 2018.

For Herbert Wigwe, his gross earnings from interim dividends amount to N671, 703,526.

Access Bank Plc will be paying an interim dividend of N0.25 per share for the half year ended June 2018.

Wigwe has a direct holding of 206,231,713 and indirect holding of 2,480,582,395 shares through United Alliance Company Limited and Trust and Capital Limited. His holdings are unchanged from the year ended December 2017.

Dividends from his direct holdings amount to N51, 557,928. Dividends from his indirect holdings amount to N620, 145,598.

Meanwhile, prominent banking billionaires Oba Otudeko and Mike Adenuga didn’t feature on the list as Sterling and FBN Holdings did not pay interim dividends.