STANBIC Issues Press Release on Scrip Dividend Issue


Thursday, March 28, 2019 10:25AM / NSE


We are once again advising our esteemed shareholders that in line with the authority granted to Directors by Shareholders at the 06 August 2015 Extra Ordinary General Meeting, 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 the whole or a part of 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 date 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 one naira fifty (N1.50) kobo dividend being recommended by Directors for approval at the 7th Annual General Meeting of the Company, holding on Wednesday 19 June 2019, the qualification date as previously published was Wednesday 20 March 2019.

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 Nigerian 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 one naira fifty (N1.50) kobo dividend indicated above, the reference price for determining the scrip dividend allotment is N47.89 (forty seven naira eighty nine kobo).

Shareholders, who wish to receive their one naira fifty (N1.50) 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: 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 close of business on Monday 10 June 2019.

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

For any enquiry, please contact Chidi Okezie, Group Company Secretary– Email: or Idris Toriola, Head Investor Relations – Email:; Tel +234 1 422 8501

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