Fidelity Bank Hits N1trn Ahead of Dividend Payment in April
With about 5% price appreciation in the last seven trading sessions, Fidelity Bank Plc’s market value rose above N1 trillion due to a mild rally on the financial services company’s stock on the Nigerian Exchange (NGX) trading platform.
Data from the local bourse showed that the Tier-1 lender share price surged to N19.95 on Friday as more than 22.585 million valued at N441.648 million exchanged hands in the market.
At the going market rate, the bank’s share price is trading at a moderate discount of 5.67% to its highest price in the last 52 weeks on NGX. Fidelity Bank Plc board plans to meet April 28 to discuss and approve the release of its unaudited financial statement for the first quarter of 2025.
Following its earnings performance and capital raised, Fidelity Bank’s board of directors declared and paid an interim dividend of 85 kobo per ordinary share of 50 kobo each on 32,000,000,000 shares, amounting to N27,200,000,000.00 for the half-year period ended June 30, 2024.
The bank said in a regulatory filing that if the proposed final dividend of N1.25 per share for 2024, totaling N89.950 billion, is approved by shareholders at AGM, the amount will be paid on April 29, 2025, to shareholders whose names appear in the Register of Members at the close of business on April 15, 2025.
The proposed final dividend is subject to withholding tax at the applicable tax rate, the bank said in its regulatory filing last week, adding that shareholders who have completed the e-dividend mandate will receive direct credit of the dividend to their bank accounts on April 29, 2025, net of withholding tax.
Fidelity Bank Plc has announced a closed period for insiders from trading on the financial services company’s shares starting from April 1 until after the first quarter earnings release has been published on the NGX platform. #Fidelity Bank Hits N1trn Ahead of Dividend Payment in April Reps to Intervene Over Electricity Bill Hike at University of Jos
