FNBB pays shareholders

First National Bank Botswana has declared a dividend of 49 thebe per share for the year ended 30 June 2021. According to the bank financials, the dividend will be paid on or about 8 October 2021 to shareholders registered at the close of business on 28 September 2021.

The bank which is led by Steven Bogatsu further announced the ex- dividend date is 24 September 2021. In terms of the Income Tax Act, as amended, withholding tax at the rate of 10% will be deducted by the bank from gross dividends.

Meanwhile, the bank has also reported that, its capital management strategy is to ensure an optimal level and composition of capital, effective allocation of financial resources including capital and risk capacity, so as to achieve a sound return on equity and a sustainable dividend distribution to shareholders. “The capital planning process for FNBB is conducted on a forward- looking basis and considers, inter alia, the organic growth requirements, and a safety margin for unexpected fluctuations in business plans and earnings volatility,” said the bank.