Access Bank shareholders approve 40k final dividend

Shareholders of Access Bank yesterday approved the final dividend of 40 kobo per ordinary share of 50 kobo each.

The resolution was ratified at the 206 annual general meeting of the bank which assured that they would continue to stand by the bank in its desire to create a profitable world class financial institution.

The bank had earlier paid an interim dividend of 25 kobo bringing the total dividend for the financial year to 75 kobo per ordinary share of 50 kobo each.

A shareholder, Sir Sunny Nwosu, while speaking at the meeting, said shareholders were happy with the performance of the bank despite the country’s worst economic performance in two decades.

Nwosu said : “It is noteworthy that the bank has performed well in the 2016 financial and we are happy. We will also expect a better performance for the current year because of the fact that Nigeria is gradually getting out of recession. A bank that performed well in a recession should be able to perform better without it.”

Another shareholder, Boniface Okezie, who is chairman of Progressive Shareholders Association of Nigeria, said the performance in the 2016 financial year was a pointer to better things to come from the bank and urged it to ensure that it guarded against been punished for contraventions by regulatory bodies.

The concern of shareholders at the meeting was how the bank would keep the culture of paying dividend and also to prevent venturing into businesses that would lead to impairments in the sector.

Responding to questions by the shareholders, the managing director of the bank, Mr. Hebert Wigwe, assured them that the bank, more than ever before, would continue to do things to bring profitability and shun those that won’t.