Wema Bank Shrinks by 8.5% Ahead of Shareholders Meeting
The market value of Tier-2 financial services company Wema Bank Plc fell by about 8.5% over the last seven trading sessions, tracking below its 52-week high due to deteriorated investor sentiment.
Some of the financial services company’s shareholders took profits after Q1 2026 earnings triggered a re-rating, lifting its share price to an all-time high of N36.
The sell action precedes its annual shareholders meeting on May 20, 2026, where Wema Bank Plans to make final dividend payments for the financial year 2025 in May.
The Tier-2 lender traded against the Nigerian Exchange as the momentum eased after the initial rally. Trading data from the Nigerian Exchange showed that Wema Bank’s share price closed at N32.95.
The bank’s share price peaked at N36 over the last 7 trading sessions, its 52-week high on the Exchange. The market value of Wema Bank Plc, with 40.118 billion outstanding shares, dropped to N1.321 trillion, about 8.5% below its 12-month high.
Wema Bank is scheduled to pay a final dividend of N1.25 per ordinary share, subject to approval by shareholders whose names appear in the Register of Members as at the close of business on the 29th day of April 2026.
At the annual general meeting scheduled for 20th of May 2026, the market anticipates the bank to pay dividends electronically to shareholders whose names appear on the Register of Members as at the 29th of April 2026.
In the first quarter of 2026, Wema Bank grew its profit to N63.132 billion, driven by increased business activities and capital expansion, from N35.853 billion in the equivalent period in Q1 2025. The upbeat earnings attracted investors, and its share price increased sharply to N36. NGX Index, Market Cap Expands as Investors Gain N1.1trn
