Tuesday, April 24, 2018 /09:10AM/NSE
We are once again advising our esteemed shareholders that in line with the authority granted to Directors by Shareholders at the Extra Ordinary General Meeting of Stanbic IBTC Holdings PLC (“the Company”) held on 06 August 2015, 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 fifty (50) kobo dividend being recommended by Directors for approval at the 6th Annual General Meeting of the Company, holding on Tuesday 19 June 2018, the qualification date as previously published was Wednesday 28 March 2018.
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 fifty (50) kobo dividend indicated above, the reference price for determining the scrip dividend allotment is N48.62 (forty eight naira sixty two kobo).
Shareholders, who wish to receive their fifty (50) 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: http://reporting.stanbicibtc.com/resuItsreportsphp.
In addition, you may also obtain a copy of the form by contacting either the Group Company Secretary Email: email@example.com or Idris Toriola, Head Investor Relations - Email: firstname.lastname@example.org; Tel +234 1 422 8501; or by contacting the Registrars: First Registrars and Investor Services Limited on Tel: +234 12701078-9. All completed forms must reach the Registrars on or before close of business on Monday 11 June 2018.
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.