WorldStage Newsonline– Stanbic IBTC Holdings Plc, a leading financial group in Nigeria on Wednesday released its consolidated and separate interim report 30 June 2020 http://www.nse.com.ng/Financial_NewsDocs/31355_STANBIC_IBTC__HOLDINGS_PLC-_QUARTER_2_-_FINANCIAL_STAT.pdf, barely 24 hours after alerting the Nigerian Stock Exchange and the investing public that its being delayed at the Central Bank of Nigeria (CBN), its primary regulator.
The group’s gross earnings increased by 7.83% to N126.570 billion from N117.374 billion in Q2 2019 while profit after tax increased by 24.72% to N45.204 billion for the period ended 30 June 2020 from N36.245 billion in Q2 2020.
Meanwhile, the management of the company has recommended the approval of an interim dividend of 40 kobo per share for the period ended 30 June 2020 which translated to N4,201,986,943.20, down from 100 kobo per share in Q2 2019.
The group said the Interim Dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday 15 September 2020.
It said the Register of Shareholders will be closed from Wednesday 16 September 2020 to Wednesday 23 September 2020 while on Wednesday 30 September 2020, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at close of Trading on Tuesday 15 September 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Investors responded positively to the release of the company’s Q2 2020 result today at the stock market as its share price gained 1% to close at 37.5 following 14 transactions involving 137,129 shares valued at N5,120,149.80.
The company was incorporated in Nigeria under the Companies & Allied Matters Act (CAMA) as a public limited liability company on 14 March 2012. The company’s shares were listed on 23 November 2012 on the floor of The Nigerian Stock Exchange
The principal activity of the company is to carry on business as a financial holding company, to invest and hold controlling shares, in as well as manage equity in its subsidiary companies.
The company 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 Insurance 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.
