GTCO Slips Slightly Ahead of Dividend Payment
Guaranty Trust Holdings Company (GTCO) Plc slid slightly in the equities market ahead of its annual shareholders meeting, where the proposed final dividend of N7.03 for 2024 will be approved for payment.
The orange-branded financial services company stock shed about 2% of its market price to close at N64.8 on the Nigerian Exchange Limited (NGX) trading platform on Wednesday, from N65.95.
In the market, more than 62.882 million shares of GTCO valued at N4.05 billion were traded by alpha seekers in the local bourse. In terms of volume, GTCO led the activity chart, accounting for 16.72% of the total volume of all transactions conducted in the equities market.
The Holdings Company emerged as the most traded stock in value terms, accounting for 34.51% of the total value of all transactions conducted in the equities segment of the Nigerian Exchange. At the annual general meeting scheduled for April 24, GTCO plans to pay its shareholders the final dividend declared for its upbeat performance for 2024.
“If approved, the dividend will be payable on April 24, 2025, at the rate of ₦7.03K per every 50 Kobo ordinary share to shareholders whose names appear in the Register of Members at the close of business on April 15, 2025”, the company said in a note.
Stockbrokers monitoring the stock said the payment will bring the total dividend payment for the 2024 financial year to ₦8.03K. GTCO said in the notice that shareholders who have completed the e-Dividend Mandate Forms will receive a direct credit of the dividend into their bank accounts on the date of the Annual General Meeting.
However, the holders of the company’s global depository receipts listed on the London Stock Exchange will receive their dividend payments subsequently, the financial services group said in a regulatory filing. #GTCO Slips Slightly Ahead of Dividend Payment EU to Diversify Defence Industry after U.S. Tariffs
