Union Bank Dividends

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Apr 5, 2020
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Union banks just announced that they have started paying dividends but they haven't paid any dividends in the past years. Are they going to back pay investors for the years they didn't pay?
 
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Union Bank of Nigeria Plc announced earlier today that it will pay a final dividend of N0.25 for every 50 kobo share held by its shareholders.

Union Bank stock rose 39% rise in 2018 net profit to N18.1 billion, but the bank did not declare dividends at that time.

Qualification and payment dates: This has been fixed for the 24th of April, 2020. In line with this, shareholders whose names appear in the register of members as of May 1st, 2020, should expect their dividends transferred to their bank accounts on the 6th of May.

What are they doing with their money?
 
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