April 30, 2008 at 17:19 GMT
ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Â¦ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œIf it is the projection in terms of dividends, I cannot give you that until the shareholders Annual General Meeting (AGM) has been done, but what I can assure is that with the figures we have presented today; talking of N1.60 Kobo per share, clearly we should expect a very aggressive dividend and bonus issue for the yearÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â Adigwe said.
The unaudited figures presented by the bankÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢s group shows that Total Assets grew from N86.669 million in 2004 to N480.779 million in 2007/2008 indicating a growth of 157 percent, with a five year Cumulative Average Growth Rate (CAGR) of 53 percent.
While Gross Earnings of the Group also increased from N14.889 million in 2004 to N51.270 million in year 2008 indicating a growth of 86 percent, also with a five year CAGR of 53 percent.
In the same vein, Profit before Tax (PBT) also rose from N2.022 million in 2004 to N17.306 million in 2008 showing a growth rate of 89 percent; with CAGR of 71 percent.
Profit after Tax (PAT) increased from N1.328 million in 2004 to N12.238 million in year 2008 representing an increase of 135 percent; with a CAGR of 131 percent.
Also shareholders funds grew from N8.621 million in 2004 to N43.965 in year 2008 indicating a 410 percent growth.
Adigwe confirmed that as at March 2008, number of outstanding shares of the company; stood at 6.130 billion.
ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Â¦ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œIn the next five years, our story will be one of transformation, tremendous growth and unrivalled returns to investorsÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â he affirmed.
Adigwe also confirmed that AFRIBANK raised about N105 billion in its last offer which the Securities and Exchange Commission (SEC); approved three weeks back.