Proshare Logo
   Market Date: 30-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

ETI approves dividend increase

Category: Capital Market

  Read (2793)
 ETI approves dividend increase

By Agency reporter Thursday, 17 Jun 2010

Shareholders of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, will receive a 50 per cent increase in dividend payments this year following a resolution approved by the group‘s Annual General Meeting in Kenya on June 11, 2010.

Addressing shareholders, the Group Chairman, Mr. Kolapo Lawson, said, ”We are very pleased to be holding our annual meeting in Nairobi.“As you may all be aware, Ecobank is not only the leading pan-African bank with a presence in more countries in Africa than any other bank in the world, but is currently the only bank that is present in all the countries of the East Africa Economic Community.As a pan-African bank, we have shareholders from over 30 African countries, including Kenya, and it is our intention, over time to hold our AGM in the various regions in which we are present.”

Outlining Ecobank‘s performance in 2009, the Group Chief Executive, Mr. Arnold Ekpe, said, ”Depreciation in major currencies, start-up costs for newly established subsidiaries, restructuring costs for newly acquired subsidiaries and impairment provisions in some of our major countries had affected the results.”

He further said the overall slowdown in African economies during the year arising from the global economic and financial crisis, had also been a factor in the group‘s financial results.In 2009, Ecobank achieved revenues of $873m, total assets over $9bn, and profit after tax of $65m. The group operates in 30 countries and has 750 branches and offices.

The board informed shareholders that Ecobank‘s geographical expansion phase was now coming to an end and that the focus in 2010 going forward would be on consolidating and optimising operations and leveraging the platform the group had built over the years.



Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Capital Market

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014