{"id":12205,"date":"2017-04-10T15:53:57","date_gmt":"2017-04-10T14:53:57","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12205"},"modified":"2017-04-10T15:53:57","modified_gmt":"2017-04-10T14:53:57","slug":"fidelity-bank-shareholders-to-get-14-kobo-dividend","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fidelity-bank-shareholders-to-get-14-kobo-dividend\/","title":{"rendered":"Fidelity Bank Shareholders to Get 14 Kobo Dividend"},"content":{"rendered":"
Shareholders of Fidelity Bank Plc are to get a dividend of 14 kobo for the full year ended December 31, 2016 for every ordinary share of 50 kobo, which amount to N4.05 billion. If the dividend is approved at the bank\u2019s Annual General Meeting (AGM), which is slated for May 4, 2017 at the Shell Hall Muson Centre Lagos it will be subject to withholding tax at the appropriate tax rate, which will be deducted before payment.<\/div>\n

Register of members closes April 18, 2017, while payment date is May 4, 2017, Highlight of the 2016 full year account shows that profit before tax went down from N14,024 billion in 2015 to N11,061 billion in 2016. Profit after tax also dropped from N13,904 billion in 2015 to N9,734 billion in 2016. Earnings per share stood at 34 kobo which is below 48 kobo that was recorded same period in 2015.<\/span><\/span><\/p>\n

According to a statement from the bank, the managing director Nnamdi Okonkwo said the 2016 performance reflected the sound fundamentals of the bank\u2019s evolving business model. \u201cOur financial performance in full year 2016 reflects the sound fundamentals of our evolving business model as we continued with the disciplined execution of our medium-term strategy which positions the business for improved and sustainable profitability,\u2019\u2019 Okonkwo said.<\/span><\/span><\/p>

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He explained that profits dipped due to N4.8 billion cost incurred as Fidelity Bank discontinued its Legacy Gratuity and Retirement Scheme. \u201cExcluding this one-off charge, profit before tax for the year would have been at N15.8 billion\u201d Okonkwo said. Adding that the performance was driven by the upgrade of its core banking system which provided a superior architecture that enhanced its operational efficiency and deepened the bank\u2019s electronic banking capabilities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders of Fidelity Bank Plc are to get a dividend of 14 kobo for the full year ended December 31, 2016 for every ordinary share of 50 kobo, which amount to N4.05 billion. If the dividend is approved at the bank\u2019s Annual General Meeting (AGM), which is slated for May 4, 2017 at the Shell …<\/p>\n","protected":false},"author":11,"featured_media":12206,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[796],"coauthors":[2392,2393],"class_list":["post-12205","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-fidelity-bank"],"yoast_head":"\nFidelity Bank Shareholders to Get 14 Kobo Dividend - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fidelity-bank-shareholders-to-get-14-kobo-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Bank Shareholders to Get 14 Kobo Dividend - National Wire\" \/>\n<meta property=\"og:description\" content=\"Shareholders of Fidelity Bank Plc are to get a dividend of 14 kobo for the full year ended December 31, 2016 for every ordinary share of 50 kobo, which amount to N4.05 billion. 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