Shareholders of Guaranty Trust Bank (GTBank) Plc, unanimously endorsed the payment of a total dividend of N2.75 per share for the financial year ended Dec. 31, 2018.
The shareholders gave the approval at the bank’s 29th Annual General Meeting (AGM) held in Lagos.
The bank had proposed a final dividend of N2.45 per unit of ordinary share held by shareholders in addition to the interim dividend of 30k interim dividend earlier paid in June 2018. in a related development, the said its profit grew 10.4 percent to N49.30 billion in its first quarter period ended March 31, 2019 from N44.67 billion posted a year ago.
Profit before tax of the bank increased 8.3 percent to N56.98 billion from N52.62 billion declared the same period of 2018. Gross earnings increased from N108.87 billion in first quarter of 2018 to N110.30 billion in the review period of 2019; showing a marginal increase of 1.2 percent.
Commenting on the result, Segun Agbaje Managing Director of the bank explained that “Going into 2019, we knew that it would be a challenging year, but our strategy and unwavering focus on delivering value for our customers and shareholders continues to underpin our ability to consistently deliver solid results despite changing market variables”.
according to him “We carried on the momentum of the previous year, posting strong growth in earnings, effectively managing costs and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible,”
Photo Caption: Segun Agbaje Managing Director of GT BANK