Shareholders of Union Bank of Nigeria Plc will receive their first dividend in over a decade on Wednesday, May 6, 2020, the lender has confirmed.
On March 5, 2020, the financial institution announced a cash reward of 25 kobo for the 2019 fiscal year. It was the first since 2008.
In a notice to the Nigerian Stock Exchange (NSE) last Friday, Union Bank said the dividends will be paid electronically to shareholders on May 6, the same date for the Annual General Meeting (AGM).
According to the notice, the qualification date for the cash reward is April 24, 2020, while the register of shareholders will be closed from April 27 to 30, 2020.
Shareholders who are yet to complete the e-dividend registration have been urged to do the needful.
In the 2019 financial year, Union Bank increased its gross earnings by 14 percent to N159.9 billion from N140.1 billion in FY 2018.
Also, its interest income went up by 11 percent to N116.5 billion from N104.8 billion in FY2018, while the net interest income before impairment increased by one percent to N51.7 billion from N50.9 billion in FY2018.
On March 5, 2020, the financial institution announced a cash reward of 25 kobo for the 2019 fiscal year. It was the first since 2008.
In a notice to the Nigerian Stock Exchange (NSE) last Friday, Union Bank said the dividends will be paid electronically to shareholders on May 6, the same date for the Annual General Meeting (AGM).
According to the notice, the qualification date for the cash reward is April 24, 2020, while the register of shareholders will be closed from April 27 to 30, 2020.
Shareholders who are yet to complete the e-dividend registration have been urged to do the needful.
In the 2019 financial year, Union Bank increased its gross earnings by 14 percent to N159.9 billion from N140.1 billion in FY 2018.
Also, its interest income went up by 11 percent to N116.5 billion from N104.8 billion in FY2018, while the net interest income before impairment increased by one percent to N51.7 billion from N50.9 billion in FY2018.