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STANBIC Declares N24.11bn PAT in Q2 '17 Results; Proposes 60k Interim Dividend,(SP:N40.00k)


Tuesday, August 29, 2017 12:40 PM / NSE


This is to once again advise our esteemed shareholders that in line with the authority granted to Directors by Shareholders at the 06 August 2015 Extra Ordinary General Meeting, and as published in the Notice of the 5th Annual General Meeting of Stanbic IBTC Holdings PLC (“the Company”) dated 10 August 2017, Shareholders have a choice of receiving dividends declared by the Company, up to year 2020, either in cash or may elect to receive their dividends as new ordinary shares in the Company (“scrip dividend”).  

Where a shareholder elects to receive his or her dividends by way of new ordinary shares, then such scrip dividend shall only be allotted after receipt of any required regulatory approval and shall apply to shareholders whose names were on the Register of Members as at the qualification dates for the payment of such dividends (“Qualifying shareholders”). 

In order to be valid, any scrip dividend election by shareholders must be made to the Company’s Registrars, not later than seven working days prior to any dividend payment date. With respect to the five (5) kobo dividend being recommended by Directors for approval at the 5th Annual General Meeting of the Company, holding on Tuesday 12 September 2017, the qualification date as previously published was Monday 03 April 2017.

The reference price to be used in determining any scrip dividend allotment shall be the volume weighted average price (VWAP) of the Company’s shares on The Nigeria Stock Exchange (The NSE) for the five business days commencing on the day the ordinary shares are first quoted ex-dividend. With respect to the five (5) kobo dividend indicated above, the reference price for determining the scrip dividend allotment is N18.20 (eighteen naira twenty kobo). 

Shareholders, who wish to receive their 5 kobo dividend by way of new ordinary shares, can either download the Scrip Dividend Election form (“the form”) from our website, by clicking on the following link: In addition, you may also obtain a copy of the form by contacting either the Group Company Secretary – Email:  or Idris Toriola, Head Investor Relations – Email: ; Tel +234 1 422 8501; or by contacting the Registrars: First Registrars and Investor Services Limited on Tel: +234 1 2701078-9. All completed forms must reach the Registrars on or before Tuesday 05 September 2017. 

Shareholders who however elect to receive their dividends in cash, are not required to take any action as they will have their dividend warrants or bank accounts (in the case of shareholders with the appropriate e-dividend mandate) sent/credited on the dividend payment date.

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